McDonald’s has announced that it will be extending its $5 value meal offer in most of its U.S. markets, citing the success of the promotion in driving traffic back to its restaurants. In a memo to the U.S. system, executives revealed that nearly every business unit, comprising 93% of its restaurants, voted to extend the offer beyond its original end date late this month. The majority of locations will extend the $5 value meal through August or plan to vote on whether to do so.
The $5 value meal, which includes a McChicken or McDouble, four-piece chicken nuggets, fries, and a drink, was introduced on menu boards on June 25 and was initially intended to last for about a month. However, due to its popularity among customers, McDonald’s has decided to extend the offer. The combo costs significantly less than purchasing the items individually, making it an attractive option for value-conscious consumers.
According to Myra Doria, national field president, and Tariq Hassan, U.S. chief marketing and customer experience officer, the $5 value meal has resonated with millions of customers. They stated in the memo, “When our customers are ordering the $5 Meal Deal, they aren’t visiting the competition, and early performance shows this deal is meeting the objective of driving guests back to our restaurants.”
The decision to extend the offer comes as restaurants are actively seeking ways to boost their traffic amid consumer hesitation caused by higher prices resulting from inflation. This is particularly true for lower-income diners who have been affected by years of inflation-fueled price hikes. McDonald’s faces competition from other chains such as Burger King, Wendy’s, Taco Bell, and even Starbucks, all of which have offered deals ranging from $3 to $5 in an attempt to attract value-conscious consumers in today’s highly competitive environment.
The memo also emphasized the importance of driving guest counts for sustained business growth. McDonald’s recognizes that by offering attractive deals, they can not only bring back customers but also ensure the long-term success of their operations. To make the initial value offer more appealing for franchisees, Coca-Cola contributed marketing funds, and there have been discussions about future contributions to make the discounted offering sustainable for operators in the long run.
Overall, the decision to extend the $5 value meal offer demonstrates McDonald’s commitment to meeting customer demands and driving foot traffic to its restaurants. The success of this promotion highlights the effectiveness of value-driven deals in a competitive industry where consumers are increasingly price-conscious. By continuing to provide affordable options, McDonald’s aims to maintain its position as a top choice for customers seeking both quality and value.
