McDonald's to add 125 new outlets in China
30 January 2008
McDonald's announced plans to open 125 new restaurants in China this year, 18% more than in 2007, the Wall Street Journal reported. Half of the new outlets will have drive-through windows, said Jeffrey Schwartz, head of the fast-food chain's China operations. He noted that 28% of sales at the 60 existing restaurants equipped with drive-through windows come from drive-by pickups. This figure rises to 63% in the US but McDonald's is keen to capitalize on China's potential as the world's fastest-growing major auto market. A partnership with Sinopec, the largest gasoline retailer in China, is partly responsible for the number of McDonald's drive-through restaurants in the country rising threefold in the last two years. The company's market share was 17.9% in 2006, up from 8.4% in 2004, according to market research firm Euromonitor International. KFC was on 34.6%, compared with 15.8% in 2004.
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