If we ask about the king of fast food on the street, without No doubt the name that is mentioned the most is mcdonalds. A multinational that, leaving ethical and healthy aspects aside, has carried out impeccable management over time that has led it to be the leader in the fast food market.
Things have changed, however, for its current CEO Steve Easterbrook. The British president has not made any statement in the media about his objectives since he replaced the previous CEO on March 1 Don Thompson. But the data speaks for itself, lthe company’s net income has fallen 15% in 2014, billing 4.7 billion dollars. This suggests that policy changes are yet to come, although they may be a little late.
Financial analysts and restaurant consultants say that McDonald’s has failed to adapt to changing tastes in its main source of income, the United States. Shake Shak, Panera Bread or Chipotle are some of the great competitions that have emerged in the country with the largest number of hamburger consumers and it has been of little use to expand to countries like China or Russia.
Perhaps it is because of its dependence on the US or perhaps also because people have grown tired of the monotonous flavors that the multinational offers. It is no longer useful simply to differentiate in speed and price because the competition is so strong that other companies can also compete with that. What is clear is that consumers evolve and companies must do it with them. Not even the big multinationals are spared and McDonalds will have no choice but to apply the story.
According to Patty Johnson to The Guardian, expert international food and drink analyst, it is about a change in ethics and morality. Before, people only looked at the weather and that the food tasted good, but nowadays more and more people expect gluten-free foods, vegetables or fruits, to give some examples. It is not that people go on a diet but that they have changed their lifestyles for principles, yes, those principles that we left aside at the beginning of this article. Healthy living is in fashion and that is not beneficial for the multinational, which will have to take action on the matter. Analysts and experts from all over the world expect the change and assure that the process will be slow and difficult in a company of such size.
Fashions and habits change and companies either conform or are lost. It seemed that the great market leaders did not suffer from these symptoms, but here is the clearest example that in the 21st century, either innovate or die. We’ll see how it all evolves and if McDonalds were to incorporate new ideas, which has never seemed to lack creativity so far. We leave you as a curiosity, a video in which people who have never tried McDonald’s breakfast try it for the first time. Your reactions are priceless.