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McDonald’s: Tech-heavy strategy at the forefront of driving growth
McDonald’s recently announced its purchase of tech start-up Dynamic Yield Ltd for a price tag of $300m, making it the company’s biggest deal in decades. The fast food giant isn’t best known for embarking on M&A activity, but it has been investing heavily in more recent years in a bid to bring technology to its services, indicating that tech lies at the forefront of the McDonald’s future.
McDonald’s recent acquisitions are the latest in a string of digital investments which have taken place over the last few years, which have been a priority under the leadership of CEO Steve Easterbrook, who was appointed in 2015. McDonald’s restaurants across the globe have gradually migrated to the digital world, with menus, ordering stations and drive through boards all utilizing new technology to improve the customer experience, making McDonald’s a market leader in terms of its tech features.
With tech at the forefront of the fast food industry, it is crucial that McDonald’s continue to invest in the coming years, particularly so it can gain an edge in what is a highly competitive industry. Some of the major competitors of McDonald’s include Starbucks, Yum! Brands, Burger King, the Wendy’s Company, and Jack in the Box, all of which have recognized the importance of tech.