McDonald’s Corp. stock price hit an all-time high Wednesday as Wall Street reportedly cheered the replacement of cashiers with kiosks.
The company announced that they will upgrade 2,500 restaurants to its “Experience of the Future” technology by year-end, which includes digital ordering kiosks.
Shares are up 26% year to date through Monday, hitting a high of $155.28 following the news.
The company is cultivating a digital platform through mobile ordering and Experience of the Future (EOTF), an in-store technological overhaul, most conspicuous through kiosk ordering and table delivery. They are doing a great job launching popular innovations within the context of simplifying the menu, while introducing more effective value initiatives that have recently begun to improve the brand’s value perceptions.
Take a peak at what the experience looks like.
Meanwhile, a tradeoff between time and taste looms large for McDonald’s as it works to win back business lost to rivals. The introduction of cooked-to-order, quarter-pound burgers made with fresh beef is part of the chain’s attempt to improve food quality. Announced in March, the new sandwiches are already in selected test markets and are expected to be served in all U.S. stores by mid-2018.
But the success of the initiative may well hinge on satisfying important but impatient customers: speed-minded drive-through patrons who account for 70 percent of the firm’s U.S. revenue. An on-demand Quarter Pounder takes about a minute longer to land in a customer’s hands than does the original sandwich, according to restaurant managers and analysts, even though fresh beef fries up faster than frozen patties. That’s because grilling begins only after a patron orders. Traditional Quarter Pounders were often cooked up in batches ahead of time.
Either way, change is coming, and it’s coming fast to McDonald’s. Personally, I love it. I’ve had bad interactions with staff, and it’s much more comforting, taking your time, being selective with a robot, rather than a person, especially a person who hates their job.