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McDonald’s Corp.
MCD,
took to Twitter on Monday morning to announce the upcoming BTS meal, a menu collaboration with the Grammy-nominated boy band.
The meal will include a 10-piece chicken McNuggets, Sweet Chili and Cajun dipping sauces, which are inspired by the McDonald’s menu in South Korea, a medium-sized Coca-Cola and medium-sized French fries.
The BTS meal will launch on May 26 in the U.S., Canada, parts of the Caribbean, and other countries around the world. The meal will roll out in other parts of the globe through the rest of May and June, ultimately available in 50 countries. This is the first McDonald’s celebrity meal that will be available globally.
McDonald’s has previously had successful collaborations with musical acts including Travis Scott and J Balvin, part of the company’s new Famous Orders program.
The Travis Scott collaboration was credited with a September 2020 sales bump. Together, McDonald’s says the meals drove sales in the second half of the year.
Moreover, these meals attract younger customers and McDonald’s app users who receive discounts for ordering digitally.
BTS has 34.5 million followers on Twitter, 40 million Instagram followers and 31.8 million followers on TikTok. The K-pop band was top-selling act of 2020, according to BBC News.
Even before the announcement of this latest collaboration, UBS analysts were bullish about the road ahead for McDonald’s.
“Structural improvements to marketing, digital, an updated store base, drive-thru efficiencies, and menu upgrades should provide ongoing share gain opportunities,” analysts wrote in a Friday note.
UBS conducted a survey of 2,000 customers to analyze the fast-food giant’s same-store sales prospects.
“We found consumers continue to appreciate key brand advantages and indicate intent to increase visits going forward,” the note said.
Read: Expect ‘eye popping’ sales numbers from consumer companies as calendar laps COVID closures
UBS rates McDonald’s stock at buy with a $255 price target.
McDonald’s stock is up 8% for the year to date while the benchmark Dow Jones Industrial Average
DJIA,
has gained 11.3% for the period.
