Taco Bell Value Box: What we know

Taco Bell has entered the price war in the fast-food market, offering cheap menus to boost sales and attract new customers.

Taco Bell Value Box: What’s Inside

CBS News has the full list of things that were included in Taco Bell’s just-announced $7 Luxe Cravings Box.

• Chalupa Supreme
• Hearty 5-layer burrito
• Double stacked taco,
• Chips and nacho cheese sauce
• Medium sized drink

The outlet also said that the fast-food restaurant will only be offering this promotion for a limited time. However, it was not made clear how long.

“With the launch of the $7 Luxe Cravings Box, we are offering consumers our most coveted items at an affordable price and delivering on our promise to satisfy fan cravings with popular full-on menu items,” said Taylor Montgomery, chief marketing officer of Taco Bell North America, in an official statement. “Our Cravings Value Menu is one of the industry’s leading value menus, offering 10 items for under $3 because we believe consumers don’t have to choose between affordability and abundance.”

Burger King, McDonald’s, Wendy’s and other restaurants have also resorted to promotions to win back financially struggling customers. Fast-food restaurants have reported in recent weeks that customer traffic at certain locations has either dropped or stopped growing altogether. The number of customers visiting casual establishments like Applebee’s and IHOP is also declining.

Restaurant chains have raised prices on their menus in recent years, citing rising labor and food costs as the reason. Twenty-two states in the U.S. raised their minimum wage in January, although the federal minimum wage remains stagnant at $7.25 an hour.

Union activists refute this claim, saying that major fast-food chains like Taco Bell can easily afford the wage increases. The Roosevelt Institute studied California fast-food companies and found that the industry reported profit margins in March.

The latest fast food entry into the cheapest meal

Taco Bell’s latest offering is just the latest addition to the price war among fast-food restaurants, all of which have seen sales decline in recent months.

Earlier this week, McDonald’s announced the limited-time reintroduction of its $5 meal deal, which will be available starting Tuesday, June 25.

The offer includes four chicken nuggets, fries, a drink and a McChicken or McDouble. In view of rising food prices and financial pressures, this initiative aims to offer consumers alternatives at fair prices.

“McDonald’s is all about affordable prices and memorable moments,” said John Palmaccio, owner and operator of McDonald’s and chairman of the company’s National Advertising Fund, in a statement to Food & Wine. “As small business owners, it’s our responsibility to provide great value to our local communities when they need it most. The $5 menu offer is the perfect complement to the everyday local offers customers can find in-store and on the app, like the 25% off any $10+ purchase offer I offer at my restaurants in Savannah, Georgia.”

McDonald’s reported mixed results in the first quarter. Sales at its U.S. stores fell slightly short of forecasts while rising prices drove up average bills. The company noted that customers are more frugal with their spending as a result of the rising prices, underscoring the importance of affordable prices in attracting guests.

At the same time, the limited edition of “Grandma McFlurry” was introduced. This delicious dessert is a limited edition sweet made from a mixture of vanilla ice cream, syrup and crunchy candy pieces. Like the old chocolates often associated with grandmothers, this new treat is intended to evoke happy memories.

As for Taco Bell, its menu offerings are on the verge of directly competing with the fast-food giant.