It's pretty hilarious because your comment is exactly their goal.
McDonald's is laser focused on low income customers. They do not want to compete in the middle income space, as they don't visit as often and there's ton more(and better) competition.
Their CEO has been blunt about this recently, and trying to find ways to get low-income customers back. Dire straits ahead for them, they've priced themselves into a place they don't want to be nor will they be able to succeed in.
I don’t like how the CEO is portraying this as something solely caused by outside market forces. In the last 10 years, their profit margin has gone from ~17% to ~32%. The pricing is an intentional decision that they could choose to change at any time.
> McDonald's is laser focused on low income customers.
Like some other fast food restaurants, they're desperately trying to be thought of as being Starbucks tier, with Starbucks prices, trappings, etc.
It's like Taco Bell desperately trying to be thought of as Chipotle tier, with Chipotle level prices and trappings. Like McDonald's, they significantly raised their prices without any quality improvements to justify it.
> Their CEO has been blunt about this recently, and trying to find ways to get low-income customers back.
It's lip service because news like "low income people abandon McDonald's" makes investors get bad feels about their investment.
Terrible take. Of course they want middle-income customers, that's a big part of why they raised prices, because they thought middle-income would absorb them. And they arent entirely wrong - those drive-thru lines are still miles long at peak times, mostly parents getting an entire family's dinner. However middle-income is still price sensitive and notice when $30 becomes $50+. Executives talk about appealing to "value-oriented" consumers (i.e. almost everybody).
It's actually Wendy's right now suffering, vs rivals McD and BK: "Wendy's (WEN) same-restaurant sales, or sales of restaurants open at least 15 months, declined from a year ago for a third straight quarter, while those of rivals McDonald's Corp. (MCD) and Restaurant Brands International Inc.'s (QSR) Burger King increased over the past two quarters."
It's not that they don't want middle class customers, of course that would be foolish. It's that they don't want to be positioned there. The CEO has made this abundantly clear.
Their financial reports are a better source of truth than anecdotes. Q1 was an absolute disaster, Q2 surprisingly OK, Q3 missing expectations but not terrible. This is not where they want to be, regardless of lip service. They will not thrive in this space, as Wendy's has found out. IMO Wendy's was the de facto try 'middle/lower middle class' fast food option.
It truly is the most "Shove this in your slop hole you wretch" experience in all of fast food.