McDonalds has admitted amongst falling sales that the firm is becoming less relevant in today's modern and competitive market.
The restaurant chain, which has been criticized for the nutritional value of its meals and more recently the low wages offered to employees, is still a popular venue for cheap, quick meals. Operating thousands of locations worldwide, the firm has also come under fire for slow service and its impact on the environment.
After releasing its latest financial report which states sales in the U.S. fell 0.2 percent last year -- together with a customer loss of 1.6 percent -- McDonalds CEO Don Thompson summed up the problem: "We've lost some of our customer relevance."
The company is facing heavy competition from chains that offer fresher, healthier options, and despite an expanding menu and constant promotions, customers are still drawing back.
In order to rectify the situation, the chief executive said that this year, McDonalds is going to "emphasize" coffee and breakfast deals. Thompson commented:
"While 2013 was a challenging year, we begin 2014 with a renewed focus on the global growth priorities that are most impactful to our customers. We are uniting consumer insights with innovation and consistent execution to optimize our menu, modernize the customer experience and broaden accessibility to Brand McDonald's."
This post was originally published on Smartplanet.com