Starting from April, McDonald's Corp. (NYSE: MCD) will cut prices on drinks to attract more customers. This approach is taken amid the industrywide restaurant slump and sluggish growth of its all-day breakfast push, the company hopes to cheer up the business by this move.
According to the company, it will offer discount on its sodas and coffee. Soft drinks of any size will be offered for only $1, and McCafe beverages, including smoothies, espresso, and frappes, will be sold for $2 for a limited time.
“Demand has been a little weak,” said an analyst at Edward D. Jones & Co. “A lot of these guys think they’ve got to keep promoting to keep people coming in the door.”
However, this is not the first time for McDonald's to carry out the drink promotions. Since two years ago, McDonald's has been adjusting its menu and marketing. Recently, the company offered promotions of all-new Shamrock Shakes and Big Macs of different sizes.
“You can expect us to be more competitive on the value end this year,” said Steve Easterbrook, the CEO of McDonald's. He added that the company’s main focus this year is to attract customers by offering discounts and promotions.