McDonald's introduces a fresh $5 value meal as a countermeasure against inflation
As of June 25, McDonald's in the U.S. is offering a "$5 Meal Deal" for a brief period. This deal includes choices between a McDouble cheeseburger or McChicken sandwich, small french fries, 4-piece chicken nuggets, and a small soft drink.
McDonald's executives stated, "Our consumers have made it clear - they're seeking more fantastic value from us, and this summer is exactly what they'll receive."
The news of McDonald's new value meal was leaked in The Wall Street Journal earlier this month, stirring up rival fast-food chains to speed up their offering of similar deals to attract budget-conscious consumers. Burger King, Wendy's, and even Starbucks have launched meal deals recently.
Amidst growing criticism about McDonald's alleged price hikes, Joe Erlinger, president of McDonald's USA, penned a public letter refuting "viral social posts and unverified reports suggesting that McDonald’s has drastically increased prices."
He emphasized, "The average cost of a Big Mac in the US was $4.39 in 2019. Despite the global pandemic and surging supply chain costs, wages, and other price escalations, the current average cost stands at $5.29. That represents a rise of 21%, not 100%."
Consumers, disgruntled by the increase in prices, have openly shared their fast-food price concerns online. Besides airing their grievances, they're also scaling back their spending, leading to fewer dining-out visits and reduced expenditure when they do eat out, which in turn is causing a slowdown in fast-food sales and a decrease in foot traffic.
In their recent press release, McDonald's highlighted that franchisees are also offering deals like a "buy one, get one" deal for $1 breakfast sandwiches in Memphis and a double cheeseburger and small fries combination for $3.50 in Columbus, Ohio.
John Palmaccio, a McDonald's owner and chair of the Operator's National Advertising Fund, commented, "Affordable prices and delivering unforgettable moments are what McDonald's is all about. As small business owners, it's our duty to provide great value to our local communities during challenging times."
McDonald's is set to release its next financial report in late July.
CNN's Danielle Wiener-Bronner contributed to this report.
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McDonald's introduced a new "$5 Meal Deal" with options like a McDouble or McChicken sandwich, fries, nuggets, and a drink, aiming to provide better value for customers facing inflation. To cater to budget-conscious diners, many restaurants, including Burger King, Wendy's, and Starbucks, have also launched similar cost-effective meal deals.
Despite the rising costs of supplies, wages, and other expenses, McDonald's franchisees have introduced promotions like a "buy one, get one" deal for $1 breakfast sandwiches in Memphis and a $3.50 double cheeseburger and fries combo in Columbus, Ohio, to maintain affordable prices and serve their communities.
