门店数超7500家，麦当劳中国如何补齐“万店”的最后拼图？

Core Insights - McDonald's has completed its provincial coverage in mainland China with the opening of new stores in Ningxia and Qinghai, marking a significant milestone in its 30-year history in the country [1][2] - The company faces a stark disparity in store density across regions, with Guangdong having over 1,800 stores, accounting for nearly a quarter of its total in China, while newly opened stores in Qinghai and Ningxia are still in single digits [2][3] - McDonald's is expected to maintain a stable expansion pace, having opened over 800 stores this year, and is on track to reach its goal of 10,000 stores by 2028 with a net growth of around 800 stores annually [6][3] Store Distribution and Market Strategy - The store distribution reveals a "偏科" (uneven) pattern, with a heavy concentration in eastern and southern regions, while the western regions are still developing [2][3] - McDonald's employs a mixed model of "core area direct operation + peripheral market agency," which allows for risk management but may limit penetration in certain markets compared to competitors [2][17] - The company has a significant reliance on high-tier cities, with nearly 60% of its stores located in these areas, while less than a quarter are in lower-tier cities [7][8] Expansion Challenges and Pricing Strategy - McDonald's is cautious in its channel selection, focusing on established markets and shopping centers, which may hinder its ability to penetrate emerging markets effectively [9][10] - The company has begun exploring non-traditional locations such as new communities and transportation hubs, signaling a shift in its expansion strategy [11][12] - In response to competitive pressures, McDonald's has opted for a restrained approach to pricing, recently increasing prices on some items while maintaining key promotional pricing to avoid a price war [18][19] Future Outlook - The company aims to balance its growth with maintaining brand integrity, avoiding rapid expansion that could dilute its core values [20][21] - McDonald's faces the challenge of adapting to changing consumer preferences and increasing competition, necessitating a more localized approach in product offerings and marketing strategies [20][21]