The fast-food giant McDonald's ventures into new territory and experiments with a new business idea. As the company announced late on Wednesday in Chicago, McDonald's is starting a test phase for the new restaurant concept called CosMc's. The concept focuses on refreshing drinks such as sodas, teas, mixed beverages, and cold coffee.
As part of the test, the first CosMc's location in Bolingbrook (Illinois) will open this month. Additional branches are planned in the coming months. With this new concept, McDonald's clearly takes inspiration from the successful competitor Starbucks. By the end of 2024, around ten CosMc's pilot locations will be operational in the Dallas-Fort Worth and San Antonio metropolitan areas. The opening of a new restaurant chain was already announced by the company's management board in the summer.
The new CosMc's concept is part of McDonald's strategy for further growth. The fast-food giant plans to have a total of 50,000 branches worldwide by 2027. Currently, the company already counts more than 41,000 restaurants and has announced plans to open another 2,000 by the end of this year. With the new growth concept, McDonald's aims to further strengthen its presence in the global market.
The opening of the CosMc's pilot locations clearly demonstrates that McDonald's is ready to go down innovative paths and face new challenges. The new concept sets itself apart from traditional fast food restaurants and primarily appeals to customers who are looking for refreshing drinks.
The McDonald's stock initially weakened in Thursday's trading at the NYSE, but later turned positive and temporarily gained 0.07 percent to reach $287.06. Investors reacted positively to the news and expressed confidence in the future of McDonald's.
McDonald's decision to test the CosMc's concept highlights the importance of continuous innovation and adaptation to the constantly changing needs of consumers. With the new concept, McDonald's opens up new opportunities to inspire customers and drive the company's growth trajectory.
