US burger behemoth McDonald’s is to embark on a “currency marketing” strategy to attract customers to its 211 restaurant-strong fastfood chain in Argentina.
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The strategy will involve McDonald’s launching a promotion to sell hamburgers, fries, drinks and desserts purchaseable with only one coin of the local currency – a move that will mean some products seeing discounts of up to 67%.
McDonald’s reported 2001 sales in Argentina of nearly US$200m, but the company is hoping that turnover will increase by 10% with the promotion.
Major food companies such as Parmalat and Kraft-Suchard are already applying this strategy to boost sales.
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By GlobalData
