Today marks the beginning of McDonald’s (MCD) nationwide MyMcDonald’s Rewards program, its very first loyalty program in its more than 65 year-long history.
The company believes its customers’ longstanding loyalty and fandom deserve to be rewarded, and the launch of the program will do just that, with customers earning 100 points for every one dollar spent on qualifying purchases, with numerous freebies to be unlocked. (See McDonald’s stock charts on TipRanks)
MCD customers can accumulate points for every purchase through its mobile app and use them in exchange for free items on their next outlet visit. Each level of rewards unlocks wider options to choose from, like breakfast sandwiches, McCaféFrappe, or lunch classics like McDonald’s juicy burgers and World-Famous Fries.
Moreover, customers will immediately earn 1,500 points on their first order using MyMcDonald’s Rewards. MCD aims to provide seamless, personalized service through its MyMcDonald’s app, with the latest addition of the rewards program.
Additionally, McDonald’s USA will celebrate World Famous Fan Day on July 13, a day they have renamed after the company’s beloved fans by giving out free hot fries to all customers.
As part of the World-Famous Fan contest, 66 lucky customers will get a chance to enjoy one million MyMcDonald’s Rewards points, and one most loyal fan will win free fries for life.
Alycia Mason, VP of Digital Customer Experience & Media, McDonald’s USA, said, “We are so excited to bring MyMcDonald’s Rewards nationwide and celebrate with all of our guests on World Famous Fan Day. We’re eager to repay years of fandom by giving them what they love most about McDonald’s – our delicious food – for years to come.”
Yesterday, Cowen & Co. analyst Andrew Charles reiterated a Buy rating on the stock and lifted the price target to $265 (12.9% upside potential) from $260.
Charles said, “Looking ahead, our check suggests optimism around the launch of MyMcDonald’s Rewards, which is rolling out in waves and should be a tailwind to check, and traffic growth, as well as converting customers to digital ordering.”
The stock has a Strong Buy consensus rating based on 21 Buys and 3 Holds. The average McDonald’s price target of $258.77 implies 10.3% upside potential to current levels. Shares have gained 26.3% over the past year.
McDonald’s scores a “Perfect 10” from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
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