McDonald’s is planning to open over 8800 stores globally and boost its loyalty program by 100 million members to deliver US$45 billion (A$68 billion) in annual systemwide sales by 2027, which will be its fastest growth period in its history.
The fast food chain is targeting to expand to 50,000 restaurants by the end of FY27, with 1000 gross openings across the US and international markets during that year. McDonald’s had 41,198 restaurants worldwide as of September 30.
The company also disclosed it currently has 150 million 90-day active users and over $32 billion in systemwide sales to loyalty members.
“The goals we’ve outlined today further our competitive strengths across the M, C, and Ds and our ability to continue to identify new platforms for growth puts us in the best possible position to maximize the opportunities in our strategic plan and provide long-term profitable growth for all stakeholders,” said Ian Borden, CFO at McDonald’s.
M stands for maximising marketing, while C and D stand for committing to the core and doubling down on delivery, digital, drive-thru and development.
As part of the expansion plans, the fast food chain targets about 2.5 per cent of systemwide sales growth in constant currencies and between 4 per cent and 5 per cent of net new restaurant unit growth beyond FY24.
In addition, the company has partnered with Google Cloud to deploy the latest cloud technology and generative AI across its restaurants globally. The partnership is expected to improve automation innovation from equipment manufacturers and help managers identify and implement solutions to reduce business disruptions.
“We have a clear trajectory for future growth as we continue to build on the brand strength, global footprint and digital ecosystem that have resulted in unparalleled competitive advantages and cemented McDonald’s as one of the world’s leading consumer-facing brands,” said Chris Kempczinski, president and CEO at McDonald’s.
Meanwhile, McDonald’s has started testing its new small-format, beverage-led concept CosMc’s with the opening of its first store in Bolingbrook, Illinois this month. The company plans to add more CosMC’s outposts in the coming months.
CosMc’s offers a variety of specialty lemonades and teas, indulgent blended beverages and cold coffee up for customisation, as well as savouries and desserts.
This article was first published on sibling website Inside Retail.