A firm favourite among consumers, McDonald’s has been peaking the interest of its customers with menu price cuts and new item launches.
So far this month, we’ve seen a Halloween-inspired McFlurry, a toffee apple pie and the return of the fast food giant’s much loved chilli cheese bites – with new offers now launching across the McDonald’s app to ring in the festive season.
It’s a smart move by McDonald’s, which experienced a 3% fall in its share price in September, with new data revealing the company has seen a surge in both its daily app downloads and website traffic over the past month.
According to industry data platform AltIndex, new figures for McDonald’s reveal that app downloads increased by 10%. 35,253 daily app downloads were recorded in September compared to a total of 32,051 daily app downloads in August.
Website traffic jumped up by almost a third for McDonald’s (32.1%) in September, with an estimate of 33,438,000 visitors heading to mcdonalds.com – a significant increase compared to August’s total of 25,308,000 visitors.
As a result, McDonald’s is predicted to see a 4.9% increase over the next six months in its share price. The current forecast reveals the company’s price will jump from $255.26 (recorded in September) to $267.73 by February 2024.
A spokesperson for AltIndex shares: “A fan favourite among consumers when it comes to fast food, McDonald’s is clearly pulling out all the stops to keep its customers interested as we head into this year’s final business quarter.
“Slashing prices of menu favourites, offering customers discounted items and regularly revamping menus to include new items has proven to be a smart move by the fast food giant according to recent AltIndex data. It’s a clever attempt to combat recent losses, with a 10% increase in daily app downloads and a 32.1% surge in website traffic reflecting increased engagement from McDonald’s customers.
“If McDonald’s can maintain this momentum, it’s no surprise then that the market forecasts things are on the up for the global brand, with a 4.9% price increase expected by February 2024.”