Lower-income customers aren’t finding much value in the menu at McDonald’s these days.
Traffic within the cohort dropped “nearly double digits” in its latest quarter, chief executive Christopher Kempczinski told investors in an earnings call Wednesday, a trend across the industry. These customers are disproportionately feeling the strain of mounting economic pressures, including higher prices on groceries and apparel as well as the growing cost of rent and child care, he said.
