In a bid to revive sluggish sales and lure back cost-conscious customers, McDonald’s has unveiled a new $5 value meal available at its U.S. locations starting June 25. The “$5 Meal Deal,” offered for a limited time, includes a McDouble cheeseburger or a McChicken sandwich, small french fries, 4-piece chicken nuggets, and a small soft drink.
“We heard our fans loud and clear — they’re looking for even more great value from us, and this summer that’s exactly what they’ll get,” said Joe Erlinger, president of McDonald’s USA, in a press release.
The announcement of McDonald’s latest value meal had been anticipated since its mention in the Wall Street Journal last month. This spurred competitors like Burger King, Wendy’s, and Starbucks to introduce similar deals aimed at attracting budget-conscious consumers.
The introduction of the $5 Meal Deal comes at a critical time for McDonald’s, which has been battling the perception that its prices have become prohibitively high. This prompted Erlinger to issue an unusual open letter countering “viral social posts and poorly sourced reports that McDonald’s has raised prices significantly beyond inflationary rates.”
In the letter, Erlinger noted, “The average price of a Big Mac in the US was $4.39 in 2019. Despite a global pandemic and historic rises in supply chain costs, wages, and other inflationary pressures in the years that followed, the average cost is now $5.29. That’s an increase of 21% (not 100%).”
Frustration over rising fast food prices has been palpable online, with many customers airing their grievances. This discontent is reflected in consumer behavior, as diners are scaling back on eating out and spending less when they do, contributing to a slowdown in fast food sales and a decline in customer traffic.
In Thursday’s release, McDonald’s also highlighted various promotions by franchisees across the country. These include a “buy one, get one” deal for $1 breakfast sandwiches in Memphis and a double cheeseburger and small fries offer for $3.50 in Columbus, Ohio.
“Affordable prices and creating memorable moments are what McDonald’s is all about,” said John Palmaccio, a McDonald’s owner and chair of the Operator’s National Advertising Fund. “As small business owners, it’s our responsibility to deliver great value to our local communities when they need it most.”
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