McDonald's shuts down standalone beverage concept amid strategy shift
CosMc's-Inspired Drinks Headed to McDonald's MenuWhile the CosMc's stores will be shutting down, McDonald's said it will not abandon the concept entirely. Select "CosMc's-inspired" beverages will be rolled out at hundreds of McDonald's locations across the United States. The company operates over 14,000 restaurants in the U.S. and intends to use this wider platform to gauge customer interest in these new offerings.Earlier this year, McDonald's revealed plans to form an internal team focused solely on beverage innovation. This move signals the company's intent to compete more aggressively in a space traditionally dominated by brands offering complex, high-margin drink options.App to Be DiscontinuedAs part of the shutdown, the CosMc's app — used for ordering and promotions — will also be deactivated in the coming weeks. The closures will take place gradually, with all locations expected to cease operations by mid-2024.advertisementRestaurant industry consultant John Gordon noted that McDonald's has been relatively quiet in the specialty beverage space compared to competitors. However, he acknowledged that drinks offer higher profit margins than many food items and said McDonald's interest in expanding this segment is a strategic move.( With inputs from Reuters)ALSO READ: Trump signs executive orders to boost domestic nuclear power
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Hindustan Times
26 minutes ago
- Hindustan Times
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India.com
26 minutes ago
- India.com
Why India Can't Accept China's ‘Zero-Tariff' Offer Despite Its Market Appeal
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Hindustan Times
an hour ago
- Hindustan Times
US accuses India of ‘profiteering' from Russian energy purchases
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