Following the shift in general consumer’s ideas about food quality and health, McDonald’s, one of the world’s most popular fast food outlets, has experienced a huge drop in sales and stocks and have lagged the broader market according to a recent article released on CNN Money.
Calling it 'a global turnaround,' Easterbrook, who was named CEO in January, said McDonald's will become a 'modern progressive burger company' and will tackle the problem of poor performance by franchising more of its restaurants and adding more of a tasteful variety to the typical McDonald’s menu.
According to Marilyn Geewax, economic correspondent for NPR:
"McDonald's has been struggling in recent years to keep pace with fast-casual chains like Five Guys and Chipotle Mexican Grill.
So the fast-food giant is testing different menu options to lure back customers. Starting later this month, McDonald's diners will be able to choose a $4.99 sandwich, the Sirloin Third Pound burger."
With tough competition biting at the heels of McDonald's, Easterbrook has stressed that McDonald's needs to innovate more and has said that the company is also experimenting with new taste crafted sandwiches and burgers and is also implementing a new mobile ordering feature that will change the nature of the tradition drive-through.