28 Jul 2021
Posted in Consumer
BTS and fast food craze boosts McDonald’s H1 earnings, says GlobalData
Following today’s news (28 July) that McDonald’s Q2 earnings have risen from the last report, showcasing levels of growth throughout the company;
Khadija Begum, Consumer Analyst at GlobalData, a leading data and analytics company, offers her view:
“McDonald’s has benefitted from a COVID-19-driven growth of interest towards the fast-food industry. According to a survey by GlobalData, 35%* of global consumers are eating from quick service restaurants (QSR) such as McDonalds at least a few times a week. Further, 32% of global respondents admitted that they have been ordering takeaways more frequently.
“This growing interest towards takeaways has supported McDonald’s digital aspirations and helped it refocus on one of the company’s core values: customer satisfaction. Partnerships with celebrities such as BTS captivated many consumers and tapped into the globally burgeoning and vocal K-pop fan base. The involvement of BTS enabled McDonald’s to have a greater digital footprint and widened its reach among younger generations especially.
“Working with bands is a strategic move that has been well received by the public. By pushing McDonald’s core menu items such as chicken nuggets within their BTS meals, enables an increase of interest towards the brand with little product innovation and cost on their part. It is highly likely that McDonald’s will continue to build interest through digital means.”
* GlobalData’s Q2 2021 Consumer Survey