Mcdonalds $5 meal deal
McDonald’s plans to introduce one-price meals in its US stores to help consumers navigate a challenging economic environment. This $5 meal is expected to include four items: a choice between a McChicken or McDouble, four-piece chicken nuggets, fries and a drink. This initiative coincides with the trend of low-income consumers to reduce spending, especially at fast-food establishments.
McDonald’s is reportedly planning to launch a value meal in US stores aimed at helping consumers cope with an increasingly challenging economic environment. According to a source familiar with the matter who spoke with CNBC, this $5 meal deal could include four items: a McChicken or McDouble, four-piece chicken nuggets, fries and a drink. Bloomberg News initially broke the news about this possible offer.
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The move comes as low-income consumers reduce spending, especially at fast-food establishments. Bank of America data shows the company’s earnings call referring low-income customers are at their highest level in nearly two years. Executives at various companies, including McDonald’s, Wendy’s and Dave & Buster’s, have acknowledged the trend among consumers to moderate their spending.
Thisonald’s first-quarter earnings report painted a mixed picture, with U.S. same-store sales falling slightly short of expectations. The company has seen the average check increase due to the higher prices, but some customers have reduced their spending in response to these higher costs.
Cío Chris Kempzynski emphasizes the unpredictable nature of consumers’ spending habits, especially given the current climate of high prices across sectors. This trend is putting pressure on the quick-service restaurant industry as a whole.
Kempczinski emphasizes the importance of McDonald’s paying close attention to purchasing power in order to retain and attract customers.
During the call, Kempczinski noted the company is building a nationally priced deal for the U.S. market, while Chief Financial Officer Ian Borden highlighted the close collaboration between the U.S. leadership team and owner-operators. McDonald’s corporate teams and franchisees, responsible for the majority of McDonald’s locations and involved in decision-making regarding promotions, often have differing views on initiatives that may impact the owners’ bottom line.
An initial proposal for McDonald’s $5 meals has hit a wall, and further discussions are underway to refine the details, according to a source familiar with the matter. Another source noted that Coca-Cola contributed marketing funds to increase applications for the contract.
