McDonald’s has announced that its experiment with a plant-based burger was a failure.
Joe Erlinger, head of the Chicago-based fast-food giant’s U.S. operations, told a business conference that the company ended the pilot program after customers in San Francisco and Dallas-Fort Worth panned the McPlant.
McPlant “was not successful in either market,” Erlinger said. The Wall Street Journal’s Global Fast Food Forum in Chicago on wednesday.
“Right now, I don’t see U.S. consumers coming to McDonald’s or asking for McDonald’s McPlant or other plant-based protein.”
The executive added that McDonald’s also has no plans to reintroduce salads to the menu because there’s no demand for leafy greens.
Available in 600 restaurants in the San Francisco Bay Area and Dallas-Fort Worth, the McPlant is the result of a collaboration between McDonald’s and Los Angeles-based plant-based meat alternative maker Beyond Meat.
McDonald’s had already rolled out McPlant in several European markets, including Sweden, Denmark, the Netherlands, Austria and the United Kingdom, before testing the product in two markets in early 2022.
Plant-based patties are made from ingredients such as peas, rice and potatoes.
It’s served on a sesame seed bun with tomato, lettuce, pickles, onion, mayonnaise, ketchup, mustard, and American cheese.
Before the coronavirus pandemic, Beyond Meat was a Wall Street darling, with investors bullish on the company’s stock.
In July 2019, Beyond Meat’s stock price rose to about $235 per share.
But as of Thursday, the stock was trading at about $6.66 per share, a 97% drop.
By comparison, the S&P 500 index has risen more than 86% over the same period.
Analysts say Beyond Meat’s fall is likely the result of a confluence of factors, including soaring inflation and a sharp drop in demand for non-animal protein.
Beyond Meat has partnerships with other casual dining chains, including TGIFriday’s, Carl’s Jr., Gregorys Coffee and Burgerfi.
Other fast food chains, including Burger King, Wendy’s and Taco Bell, have also introduced their own plant-based meat options on their menus.
McDonald’s is trying to win back customers who have fled its restaurants due to rising prices, mainly due to inflation.
This summer, the company introduced a limited-edition combo menu of four items for $5: a McDouble or McChicken sandwich, small fries, a small soft drink and four Chicken McNuggets.
McDonald’s was widely criticized on social media after customers discovered their restaurants were charging as much as $18 for a Big Mac and $7.29 for an Egg McMuffin.
