McDonald’s launches big plan for world domination and KFC is not left behind
US fast food chain McDonald’s has announced its ambitious plan to open around 10,000 new locations worldwide by 2027, the most significant expansion in its history.
The company aims to operate 50,000 restaurants worldwide and reach a customer base of up to a quarter of a billion. McDonald’s is taking advantage of the unstable economic situation, especially in the United States, which favors restaurants offering affordable food and strong marketing campaigns.
According to Reuters, McDonald’s will focus mainly on expansion in India, Japan, Brazil and China. In China, already the company’s second-largest market after the US, it plans to open up to 4,000 new locations. Rival group Yum Brands, which includes the popular KFC chain and other brands, also plans to open about 1,600 new restaurants in China by the end of this year. The expansion is seen as a response to the growing popularity of eating at similar chains, which is linked to the country’s deteriorating financial situation.
The economic slowdown in China is affecting various sectors, including clothing, electronics and jewellery retailers. Nevertheless, Yum Brands has decided to invest in large-scale growth with plans to open more than six thousand new branches of its brands over the next three years. Competition for market share in China’s dynamic and changing consumer environment is intensifying, with both McDonald’s and Yum Brands seeking to tap into the changing dining preferences of Chinese consumers.
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