McDonald's Eyes a Global Expansion Over the Next Three Years
McDonald's announced during an investor meeting that it plans to open an additional 50,000 stores worldwide by 2027, bringing its current count of around 41,000 closer to becoming the world's largest fast-food empire.
This ambitious expansion period, which the company sees as its "fastest growth period in history," is driven by population demographic changes.
Small is Beautiful
Recognizing the digitization and delivery trends in the modern era, McDonald's is experimenting with smaller store formats to cater to changing consumer habits. Case in point: the test of a new concept store called "CosMc's" this summer.
Chris Kempczinski, CEO of McDonald's, mentioned during a phone conversation with analysts that the company is open to exploring smaller formats and stated, "With the increasing digitization and delivery, you don't necessarily need large restaurants like traditional ones."
Innovative Store Designs
McDonald's is not only expanding its physical footprint and adapting to modern consumer habits but also transforming its stores' aesthetics. The Geometry store concept, featuring striking geometric patterns, sleek grey concrete panels, and warm light wood finishes, brings modern aesthetics into dining spaces while injecting a playful energy.
Virtual Reality played a significant role in designing these new store concepts, allowing McDonald's to visualize and refine the spatial layout of the Geometry concept in a virtual environment.
Enhanced Customer Experience
McDonald's is improving its in-store experience through the use of digital signage technology. AIScreen's cloud-based digital signage system allows TVs to transform into dynamic screens with customizable content, providing real-time updates and a contactless ordering solution during the pandemic.
Personalized experiences are also on offer with self-service kiosks, which allow customers to customize their orders to their preference, ultimately leading to higher sales and increased customer satisfaction.
Eyes on China and India
McDonald's has plans to open around 7,000 new locations in China, 200 stores in the UK and Ireland, and up to 50 new locations in India by 2027.
