McDonald’s menu will soon get a little pricierMcDonald’s Korea will raise the prices of some items next week, citing increases in various costs, the company announced Thursday.
Nine hamburgers, four breakfast items and four desserts will see their prices go up between 100 and 200 won on Feb. 11.
Among the burgers are the Big Mac and the McSpicy Shanghai Burger, whose prices will rise from 4,300 won to 4,400 won. Egg McMuffins will also cost an extra 100 won, while the prices of milkshakes will increase from 2,000 won to 2,200 won.
McDonald’s Korea declined to reveal what other items would see a price increase, but attributed the move to rising costs in various sectors.
“The decision was inevitable, amid rising expenses at different levels, to deliver the best possible service and products,” a source at McDonald’s Korea said.
McDonald’s has pushed its prices up since 2011, when it raised them an average 2.7 percent.
“We adjusted the prices to a level that minimizes the burden on consumers,” the source said. The minimum limit for delivery service also rose to 8,000 won from 7,000 won.
Price-conscious customers are now concerned that other competing franchises might follow suit, but at least three - Lotteria, Burger King and KFC - denied speculation.
“Up until now, there is no discussion of a price increase,” said a representative of Burger King.
But this doesn’t necessarily mean prices won’t change in the future.
Between 2010 and 2012, Burger King raised its prices 6 percent every year. In 2014, the U.S.-based burger maker hiked prices twice.
Lotteria also raised prices in 2014 and 2015.
Industry experts see McDonald’s latest decision as part of the company’s efforts to boost revenue amid stagnant sales growth at home and abroad, affected by the growing popularity of premium hamburger outlets.
To meet the evolving tastes of consumers, the global franchise introduced an upscale hamburger lineup last year.
The premium burgers, called the Signature Collection, feature the restaurant’s thickest-ever beef patty and a higher quality, more diverse selection of vegetables.
The option was made available in 29 outlets in Korea starting in August.
BY PARK EUN-JEE [firstname.lastname@example.org]