McDonald’s value push has apparently not ended with the summer.
The Chicago-based fast-food giant on Thursday said it plans to extend its $5 Meal Deal through December. The offer gives customers a choice of a McChicken or a McDouble, four-piece Chicken McNuggets, small fries and a small drink for $5, though in some markets the McDouble meal will cost $6.
The company said that it plans additional value offers at certain periods during the fall on its mobile app.
That includes 50-cent Double Cheeseburgers on National Cheeseburger Day next Wednesday. McCrispy chicken sandwiches will be priced at $2 on the app on National Fried Chicken Sandwich Day and the chain will allow mobile app customers to buy one 10-piece McNuggets for $1 each week from Nov. 4 through Dec. 2.
The company also highlighted some local offers, such as a $5 20-piece McNuggets in Dallas.
“Together with our franchisees, we’re committed to keeping our prices as affordable as possible,” Joe Erlinger, president of McDonald’s USA, said in a statement.
McDonald’s move comes as a lot of restaurant chains are pushing value, particularly traditional fast-food chains such as Burger King, KFC and Taco Bell. Burger King has already extended its own $5 bundled value meal through October.
The extension through December essentially promises that the fast-food industry will battle over value for the balance of 2024.
Restaurant chains are pushing to get customers back in their stores. Many customers have cut back on their restaurant dining amid high prices and overall inflation. Prices at fast-food restaurants increased 4.3% year-over-year in August, according to federal data released on Wednesday. Grocery prices are up just 0.9% over that period.
McDonald’s told operators in late July that the $5 Meal Deal promotion was working in the early weeks of the offer, and that it generated a nearly 3% incremental lift in guest counts. Executives also argued that it was profitable in 96% of the system during that time.
Data from the foot traffic tracking firm Placer.ai also suggested that traffic was up in five of six weeks from early July to mid-August after the deal was introduced.
As for the choices customers make when they order the deal, burgers apparently rule. McDonald’s said 67% of customers are ordering the McDouble, while 33% are getting the McChicken.
Image courtesy of McDonald's.
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