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McDonald's $MCD -1.28% unveiled a new global growth strategy Monday called McDonald's > NEXT, built around menu innovation, new restaurant designs, improved efficiency, and a reimagined approach to customer service.
The company announced the plan at its biennial Worldwide Convention for franchisees, suppliers, and employees in Las Vegas, according to CNBC. Additional details, including financial targets, are expected at an investor event in September, the company said.
Replacing Accelerating the Arches — a plan launched at the end of 2020 that prioritized digital channels, delivery, drive-thru expansion, and marketing — McDonald's > NEXT marks a fresh strategic direction for the chain. Four areas anchor the plan: raising the bar on menu offerings, deepening consumer connections, boosting operational efficiency at individual locations, and rethinking what hospitality looks like as automation becomes a bigger part of the restaurant experience.
"Traditional competitors are upgrading their menus, and a new wave of specialists are emerging and redefining taste and quality across chicken, beef, and beverages," CEO Chris Kempczinski said in a memo to the company's global system, according to CNBC. "In a world where every restaurant is a swipe away, there is no such thing as second place," he added.
