This will be the most significant expansion in the company's history.
McDonald's has announced plans to open 10,000 new restaurants within three years. Plans for large-scale expansion of the fast-food giant were presented at a special event for investors held the previous day.
It plans to launch 10,000 new establishments by 2027. Thanks to the new expansion, the total number of points under McDonald's management will grow by a quarter, up to 50 thousand. This will be the most significant expansion in the company's history.
McDonald's also unveiled plans to increase the number of customers who use the loyalty program. The company aims to reach the 250 million mark by 2027, compared to 150 million today. Annual revenue from sales to loyal customers is expected to grow from $20 billion to $45 billion.
Commit to the coreThe company noted that menu staples such as Big Macs, Quarter Pounders, Chiken McNuggets and fries account for 65% of system-wide sales.
"Building on its historic strength with burgers, the Company continues to evolve and innovate around its longest-standing menu item with plans to deploy the Best Burger initiative to nearly all markets by 2026." - the company said.
The company also said the chicken business is no longer inferior to the beef business as the company continues to aggressively expand through billion-dollar stocks including McNuggets, McChicken, McCrispy and McSpicy. Specifically, it plans to offer McCrispy in nearly every market in the world by the end of 2025, as well as expand its product lineup.
Artificial intelligence expansionThe company also plans to invest in the automation of processes and the introduction of programs based on artificial intelligence. Thus, in particular, McDonald's has reached an agreement on partnership in the field of AI with Google Cloud service. New solutions will be implemented in the chain's restaurants on a global level.
“Over the past decade, we’ve evolved our business model significantly, enabling us to allocate the majority of our resources to the areas of the business with the greatest stability, returns and opportunity for growth. This has resulted in a more durable business model that yields a consistently strong TSR algorithm that is expected to grow,” said Global Chief Financial Officer Ian Borden.