McDonald’s declared that its experiment with plant-based burgers was a disaster.
Joe Erlinger, who heads US operations for the Chicago-based fast food giant, told a business conference that the company discontinued the pilot program after customers in San Francisco and Dallas-Fort Worth panned the McPlant.
The McPlant “was not successful in either market,” Erlinger told the Wall Street Journal’s Global Fast Food Forum in Chicago on Wednesday.
“I don’t think the US consumer is coming to McDonald’s or looking for McPlant or other plant-based proteins from McDonald’s now.”
The executive added that McDonald’s won’t be reintroducing salads to its menu either, since the demand for leafy greens isn’t there.
The McPlant, which was being served in 600 restaurants in the San Francisco Bay Area and Dallas-Fort Worth, was the result of a collaboration between McDonald’s and Beyond Meat, the Los Angeles-based manufacturer of plant-based meat alternatives.
Before McDonald’s tested the product in the two markets in early 2022, the company had already rolled out the McPlant in several European markets, including Sweden, Denmark, the Netherlands, Austria and the United Kingdom.
The plant-based patty is made from ingredients including peas, rice and potatoes.
It is served on a sesame seed bun with tomato, lettuce, pickles, onions, mayonnaise, ketchup, mustard and American cheese.
Before the coronavirus pandemic, Beyond Meat was the darling of Wall Street, where investors were bullish on the company’s stock.
In July 2019, Beyond Meat stock reached as high as around $235 a share.
As of Thursday, however, it was trading at around $6.66 a share — a 97% drop.
By comparison, the S&P 500 index has risen more than 86% during that same period.
According to analysts, Beyond Meat’s downfall can be attributed to a combination of factors, including soaring inflation as well as cratering demand for non-animal protein.
Beyond Meat has partnered with other casual dining chains including TGIFriday’s, Carl’s Jr., Gregorys Coffee, and Burgerfi.
Other fast food chains such as Burger King, Wendy’s and Taco Bell introduced their own menu items featuring plant-based meat.
McDonald’s is looking to lure back customers who have stayed away due to soaring high prices which have largely been fueled by inflation.
The company rolled out a limited $5 combo this summer that allows diners to choose from four items — either a McDouble or a McChicken sandwich, to go along with small fries, a small soft drink and a four-piece Chicken McNuggets — for just $5.
McDonald’s was widely criticized on social media after customers noticed that its restaurants were charging patrons as much as $18 for a Big Mac meal and $7.29 for an Egg McMuffin.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
