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Key Takeaways
- McDonald’s will continue to experiment with menu items that appeal to high-income consumers, who are expected to increase their visits to fast-food restaurants this year, according to executives.
- On the flip side, McDonald’s expects lower-income consumers to “continue to be under pressure” this year.
The well-off are still hitting the drive-thru, and McDonald’s wants to make sure its theirs.
Higher-income consumers are increasingly trading down, substituting meals at full-service restaurants with less expensive outings to chains like McDonald’s. It’s a trend that’s been visible across industries in recent years—and McDonald’s is eager to keep serving those customers.
“On the premium side, we’re going to have menu innovation that I think is going to continue to appeal to the upper-income consumers,” said CEO Chris Kempczinski on the fast-food giant’s fourth-quarter earnings call Wednesday evening.
Why This Is Important
Elevated inflation and economic uncertainty has caused middle- and upper-income consumers to visit low-cost retailers and restaurants more often. McDonald’s and other fast-food chains are attempting to attract higher-earners to offset pressure on the lower-income consumers who make up the bulk of their base.
Kempczinski said in November that traffic among upper-income consumers was “up almost double digits” across the quick-service industry, and that McDonald’s was gaining share among high earners. Kempczinski on Wednesday estimated mid-single digit growth among upper-income consumers this year.
Growth with those diners has helped offset softness among lower-income consumers, who are feeling the pressure of years of elevated inflation and a steadily weakening labor market. “That low-income consumer is going to continue to be under pressure” in 2026, said Kempczinski on Wednesday.
Kempczinski said he hopes new items in two high-priority categories—beverages and chicken—will be among those that attract higher-income diners to the value-focused chain. The company is also eyeing opportunities to add “energy, indulgent iced coffees, fruity refreshers, and crafted sodas” to its menu this year, according to Kempczinski.
The beverage category is particularly attractive to McDonald’s as a driver of “check”—the dollar amount a diner spends in one visit—and margins.
“It’s check add-on,” said Kempczinski in November. New drink offerings helped drive “higher average check” in more than 500 test locations last quarter, according to Jill McDonald, head of McDonald’s Restaurant Experience team. With the success of that test, the company plans to roll out a new beverage line later this year.
The chicken category, meanwhile, is “two times the size of beef and faster growing,” said McDonald on Wednesday. McDonald’s reintroduced McCrispy chicken strips and its popular chicken-filled Snack Wraps this year as part of efforts to keep up with rapidly growing competitors like Raising Cane’s, Chick-fil-A, and Dave’s Hot Chicken. McDonald on Wednesday said the company is on track to grow its share of the chicken category by one percentage point before the end of 2026.
