McDonald’s unveils new growth strategy for long-term profitable growth

10th November 2020 (Last Updated November 10th, 2020 10:38)

McDonald’s has unveiled its new growth strategy with the aim of accelerating the growth across the world during next year and beyond.

McDonald’s unveils new growth strategy for long-term profitable growth
The chain also looks to enhance digital technology innovation and optimise its delivery and drive-thru services to improve customer service. Credit: ATIKAN PORNCHAIPRASIT / Shutterstock.

McDonald’s has unveiled its new growth strategy with the aim of accelerating the growth across the world during next year and beyond.

The burger chain’s new growth strategy includes plans for enhancing marketing, the introduction of US loyalty programme, and the launch of a new crispy chicken sandwich and a plant-based meat line.

Additionally, the chain is also looking to expand digital technology innovation and optimise its delivery and drive-thru services to improve customer service.

McDonald’s president and CEO Chris Kempczinski said: “In countries around the world, we have seen customer behaviours change at an unprecedented pace over the last several months. We believe this presents an opportunity to do something special as we write the next great chapter of McDonald’s.

“By embracing a bigger, more holistic vision for the future, Accelerating the Arches defines how McDonald’s will deliver value to all stakeholders by providing a clear roadmap of what we can do for the millions of customers in the thousands of communities we serve each and every day.

The Accelerating the Arches growth strategy is expected to enable McDonald’s to expand system-wide sales growth in the mid-single digits next year, with unit growth contributing another 1.5% to 2% in 2022.

Additionally, the chain will continue to invest in the business for growth, paying dividends and returning to pre-Covid-19 debt ratios.

McDonald’s also plans to launch new packaging globally to unify branding in markets all over the world.

Kempczinski added: “With our new growth strategy, we will build on our inherent strengths by harnessing our competitive advantages and investing in innovations that enable us to continue to offer fast, easy moments for our customers.”

In July, McDonald’s was set to permanently shut down 200 restaurants in the US as its earnings plunged in the second quarter.