McDonald’s is aiming to open over 8,800 new locations and add 100 million more members to its loyalty program by 2027.
These are part of the fast-food giant’s overarching strategy to expand sales across its extensive restaurant network.
The company revealed the plans before its investor day on Wednesday, December 6, to assure shareholders of sustained growth even during economic concerns and potential competition from weight-loss drugs.
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To attract and retain customers, McDonald’s intends to phase in an improved version of its burgers and double down on chicken.
For 2024, the company forecasts a net new restaurant growth of four percent, with nearly two percent of systemwide sales growth coming from expanding its footprint.
By 2027, McDonald’s has targeted reaching a global footprint of 50,000 locations.
There are currently 41,198 as of September 30.
900 US locations
The company plans to open 900 US locations and 1,900 restaurants in its International Operated Markets segment.
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McDonald’s also wants to start approximately 7,000 units in its international developmental licensed markets division.
The International Operated Markets (IOM) segment, including markets like France, Canada, and Australia, constitutes nearly 50 percent of the company’s revenue.
In a strategic move, McDonald’s will also test ten locations of its spinoff brand, CosMc’s, by the end of 2024, with the first opening this week in Illinois.
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Simultaneously, it aims to grow its loyalty program to 250 million active members by 2027.
The company would capitalize on the program’s success in boosting mobile sales and customer engagement.
McDonald’s has also partnered with Alphabet’s Google Cloud to leverage artificial intelligence across its restaurants for operational enhancements.
The move is expected to optimize the iconic dining experience for employees and customers globally.
