7-Eleven is ready to do battle in the summer value wars.
The convenience-retailing giant on Wednesday announced a Craveables Value Menu, pitting it in head-to-head competition with fast-food chains also looking to win consumers over with low prices.
7-Eleven’s value offerings include: three for $3 Taquitos and roller grill items such as a Buffalo Chicken Roller or Pork Egg Roll; five-piece Bone-In Wings for $5 (available in Buffalo, Spicy Breaded, Roasted or Spicy Sweet Chili flavors); and Classic Glazed Donuts for $1, which the retailer is billing as “the perfect way to follow up a savory snack.”
New to 7-Eleven’s roller grill offerings are a Spicy Hot Link Sausage, which the company calls “a slow-smoked, paprika-packed sausage that delivers a flavorful kick with just the right amount of spice.”
The c-store chain is also selling any variety of Red Bull for three for $8, for a limited time.
With more than 13,000 stores in the U.S. and Canada, Irving, Texas-based 7-Eleven also operates and franchises Speedway and Stripes stores, as well as Laredo Taco Company and Raise the Roost Chicken and Biscuits restaurants.
The move comes as consumers continue to limit their visits to restaurants and rein in their basket sizes amid elevated prices.
The prices for both restaurant food and food from grocery and convenience stores rose 0.3% in May from the preceding month, according to Consumer Price Index data released Wednesday by the Bureau of Labor Statistics. Food prices overall are up 2.9% over the past 12 months, with restaurant price increases continuing to outpace grocery price increases at 3.8% and 2.2% respectively, the Bureau reported.
With elevated prices as the backdrop, value messaging has already been out in full force in recent weeks from both restaurants and convenience retailers. Some recent examples:
- Burger King is offering loyalty members buy one, get one (BOGO) free Impossible Whoppers this month, along with a BOGO Whopper on Father’s Day and free Onion Rings on June 22, National Onion Ring Day.
- Wendy’s launched a 100 Days of Savings summerlong promotion, serving up a variety of deals through its app.
- After fast-casual chain &Pizza heard from customers that its prices were too high, it lowered them late last month and simplified its menu structure to highlight affordable options.
- C-store chain Yesway rolled out a Summer Sips promotion, with deals on Rockstar energy drinks and $1 off the chain’s new Buffalo Chicken Burrito with the purchase of a Honcho beverage. Yesway’s CEO said the promo was created to “own the channel of thirst.”
- Convenience retailer Maverik’s summer promotions include 89-cent fountain drinks and Freebie Friday offerings for loyalty members.
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