(Reuters) – McDonald’s plans to open about 10,000 more restaurants worldwide by 2027 and more than double revenue from its loyalty program, the company said on Wednesday, as it invests heavily in automation its services.
This expansion plan, presented ahead of the group’s investor day, would bring the number of restaurants to around 50,000 in more than 100 countries, the fastest growth period in the group’s history.
The American fast food giant also plans to increase its loyalty program to 250 million customers by 2027, which would enable it to achieve annual sales of $45 billion.
The program currently has 150 million active users, generating more than $20 billion in system-wide sales.
The chain has doubled down on its marketing strategies in recent years, including launching an initiative called “Best Burger” to improve the quality of its sandwiches.
The initiative, which the company recently expanded to 70 markets, will be rolled out across almost all segments by 2026.
For 2024, McDonald’s anticipates systemwide sales growth of nearly 2%, at constant currency, compared to a 1.5% rise forecast for 2023. Operating margin for next year should be between 45 and 49%.
The company has also partnered with Google Cloud to deploy artificial intelligence (AI) solutions in its restaurants around the world. This would include automating processes for faster delivery.
McDonald’s, unlike many companies in the restaurant sector, has not been affected by the pressure of inflation due to its more affordable prices and its aggressive promotions.
(Written by Deborah Sophia in Bangalore; French version Kate Entringer, edited by Blandine Hénault)
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