All articles tagged with #customer demographics
Cracker Barrel's new CEO, Julie Felss Masino, acknowledges the restaurant chain's loss of relevancy and plans a $700 million rebrand, including new menu items and remodeling, to attract new diners and regain its customer base, particularly those 65 and older who have not returned since the COVID-19 pandemic.
McDonald's is experiencing a shift in its customer demographics as it gains middle- and higher-income customers while losing visits from lower-income diners who are feeling the pressure of high inflation. The chain expects to raise menu prices by about 10% this year, on top of a 10% increase last year. Despite a dip in US traffic, McDonald's posted strong results with an 8.1% increase in same-store sales, driven by an uptick in traffic from more affluent consumers. The fast-food industry as a whole is also seeing a slowdown in traffic.