Americans are losing their appetites for Big Macs chased down by Cokes, forcing two megabrands to re-think how to gain market share.
This week McDonald’s reported a 3.3 percent quarterly profit decline, marking its worst performance in years, while Coke’s profit dropped 14 percent with a continuing decline in North American sales during the same period.
What’s going on? That’s the question on the minds of those running both companies who are under pressure to turn things around fast.
McDonald’s execs might take a cue from rival Chipotle Mexican Grill, which posted 20 percent growth in the third quarter. Chipotle restaurants feature a Fresh Mex menu that offers customers a choice of ingredients to customize their orders as well as organic beans and tofu in its Sofritas for vegans.
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