As McDonald’s base case is for a mild to moderate recession, its need to pass along further price increases must be balanced with retaining its leadership in affordability & value for money. While the consumer remains resilient, there is a decline in units per transaction with some trade-down. Even though frequency is increasing among low-income consumers, they are keeping their spending to a fixed dollar amount.
McDonald’s 4Q22 System Comps Increased +10.3%
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