Which value menu option includes
Target, Walmart and McDonald’s cut prices amid rising inflation
Target, Walmart and McDonald’s are all lowering prices and offering more deals to attract price-conscious consumers amid persistently high inflation.
Benzinga
Fast food and burger giant McDonald’s on Thursday announced details of a planned $5 menu that it has been working on for the past month.
McDonald’s newly introduced $5 meal deal “reaffirms its commitment to offering inexpensive and affordable menu options,” a press release said.
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The new promotion starts on Wednesday, June 25th and is available for a limited time only in participating restaurants and via the mobile app. This is what the offer includes:
- McDouble or McChicken sandwich
- Small fries
- 4-piece Chicken McNuggets
- Small refreshing drink
McDonald’s noted that the price of the $5 meal deal may vary at some locations. “We’ve heard our fans’ wishes loud and clear – they expect even more value from us and that’s exactly what they’ll get this summer,” said Joe Erlinger, president of McDonald’s USA, in a press release. “Value has always been part of our DNA. We’re focused on living up to that legacy and offering delicious, affordable options that our customers can enjoy whenever they walk through our doors, drive through our drive-thru or place an order through our app.” In addition to the new $5 meal deal, there are other special offers:Free French fries on Fridays: Until the end of 2024, customers can get a free medium portion of French fries with a minimum purchase of $1 through the McDonald’s app.
National French Fries Day, July 13: Customers can get French fries of any size for free, no purchase is necessary.
Local McDonald’s owner and operator Marissa Thrower Fisher is excited about the new $5 meal deal. Thrower Fisher operates three McDonald’s locations in Macomb County and two in Oakland County.
“Not only is this an opportunity to offer a great deal, but it also makes our customers feel valued while enjoying our legendary menu items without breaking the bank,” she said.
Thrower Fisher also said food offerings were critical to competition, but acknowledged that inflation challenges had “changed spending habits” and “influenced consumer behavior.”
“At McDonald’s, we have always been very adaptable and the $5 meal offer initiative is critical and will help us maintain competitive pricing while providing great value to our customers.”
McDonald’s is responding forcefully to allegations that some of its most popular dishes, such as the Big Mac, will see significant price increases that will exceed inflation.
It all started with a social media post about an $18 Big Mac meal at a McDonald’s restaurant in Connecticut. The post prompted Erlinger to write a letter to customers.
In the letter to customers dated May 30, 2024, Erlinger wrote that they must “continue to remain clearly focused on value and affordability.”
He also wrote that reports that McDonald’s had raised prices above the rate of inflation were inaccurate.
“The average price of a Big Mac in the U.S. was $4.39 in 2019,” Erlinger wrote. “Despite a global pandemic and historic increases in supply chain costs, wages and other inflationary pressures in the years that followed, the average price is now $5.29. That’s an increase of 21 percent (not 100 percent).”
Erlinger also wrote that franchisees, who operate 95 percent of all restaurants in the United States, set menu prices for their restaurants “that reflect the increased costs of operating their businesses.”
Economists have predicted a decline in customers due to the rising cost of dining out. The Labor Department’s latest Consumer Price Index report found that the cost of dining out rose less than half a percentage point in May, 4% higher than the same period a year ago.
According to a May 21 CNBC report, while a group of franchisees praised the affordability of the proposed $5 deal for consumers, they also pushed for McDonald’s to contribute to the deal to make it viable for them.
According to CNBC, famous soft drink maker Coca-Cola is helping McDonald’s finance the campaign. “Coca-Cola has put marketing money into the bill to make the offer more attractive,” CNBC reported last month. In a statement, Coca-Cola said: “We regularly work with our customers on marketing programs to meet consumer needs. This helps us grow our businesses together.”
CNBC said financial terms of the partnership were not disclosed.
Contact Detroit Free Press food writer Susan Selasky with food and restaurant news at [email protected]. Follow @SusanMariecooks on X (formerly Twitter). Support local journalism and become a digital subscriber to the Free Press.
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