Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/513366
"McDonald's is competing for rel- evancy," said Virginia Morris, Daymon Worldwide's vice president of con- sumer strategies and insight. "We're in this place now where you can buy food almost anywhere — you can buy it at Home Depot these days, if you wanted to." The food-service providers that are thriving, says Morris, are the ones that understand current culinary cravings V e r T H e 7 5 y e a r s since its formation, McDonald's has come to pride itself on the "bil- lions and billions served." But now this largest supplier of burgers and other fast food in the world finds itself at a crossroads. In January the company reported its fifth consecutive quarter of declining sales. spe- cialty fast-casual chains such as Chick-fil-a, Chipotle and shake shack have been munching away at its customer base, leaving McDon- ald's, with its more generalized menu and focus on cheaper, faster cuisine, struggling to keep up — and to reexamine what those infa- mous Golden arches might mean to a new generation. and which have carved out niches. "People right now are gravitating to the experts, to places that provide a sense of authenticity, and an understanding of current flavor profiles. … If you're not globalizing your flavor palate, you're probably not as relevant as you were yesterday." McDonald's is still known to many for its traditional burger, fries and shake offering, but the company has ac- knowledged the need to begin diversify- ing. In January McDonald's announced that steve easterbrook, the company's global chief brand officer, would suc- ceed Don Thompson as president and CeO upon the latter's retirement. east- erbrook, who took the reins officially in March, pledged to transform Mc- Donald's into a "modern, progressive burger company." The company had O New McDonald's Several changeS are deSigned to help the chain regain market Share By Rebecca Meiser r e t a i l i n g t O d a y 30 S C t / J u n e 2 0 1 5