Sonic Drive-In enters the fast-food fray with a $1.99 menu to attract inflation-hit customers

Sonic Drive-In announced Monday that it will introduce a discount menu – joining industry-wide attempts by its competitors McDonald’s, Burger King and Taco Bell to lure back inflation-plagued customers.

The 71-year-old burger chain – owned by Inspire Brands, which also owns Arby’s, Baskin Robbins, Buffalo Wild Wings and Dunkin – will offer burgers, snacks, desserts and brand-new wraps on a permanent “Fun.99” menu, with items priced at $1.99 each.

The Value Menu includes a quarter-pound double cheeseburger, a chili cheese coney hot dog, tater tots, and all 12 Sonic Shake flavors in a 16-oz cup.

The $1.99 menu will also introduce two new items: a Bacon Ranch Queso Wrap and a Southwest Crunch Queso Wrap.

“Guests now value affordable food options more than ever,” CMO Ryan Dickerson said in a statement. “At SONIC, we wanted to do something different – something fun – so we focused on variety.”

The Oklahoma-based fast-food chain also offers app users discounts, such as half-price cheeseburgers on Tuesday nights.

Sonic said its Value Menu “is here to stay.”

McDonald’s, Burger King and Taco Bell have all recently introduced limited-time specials – McDonald’s and Burger King each introduced a $5 meal deal last month, while Taco Bell launched a $7 “Luxe Cravings Box.”

McDonald’s – which came under fire after some stores charged up to $18 for a Big Mac and $7.29 for an Egg McMuffin – is also offering “Free Fries Friday” through the end of the year, a free medium order of French fries with a minimum purchase of one dollar on Fridays.

In April, McDonald’s CEO Chris Kempczinski acknowledged during a quarterly earnings call that “it is clear that there continues to be widespread consumer pressure around the world.”

“Consumers are becoming even more selective about every dollar they spend as they face increased prices on their everyday expenses,” he added.

The struggle for affordable meals is a result of consumption cuts due to persistent inflation and rising food prices.

In February, about a quarter of low-income consumers, or those earning less than $50,000 a year, said they were eating less fast food and about half said they were eating out less, according to a survey by consulting firm Revenue Management Solutions.

According to Revenue Management Solutions, traffic at quick-service restaurants fell 2.1% in May compared to the same period last year. At the same time, the average price at quick-service restaurants rose 3% in May compared to the same period last year, the company said.

Burger King and Taco Bell did not immediately respond to requests for comment.