Fast food restaurants like McDonald’s, Burger King, and Wendy’s are bringing back affordable meal deals to attract more customers. With the increase in food prices and complaints from diners about expensive meals, these chains are introducing budget-friendly options to entice people to dine out again.
In recent years, the perception of cheap fast food has shifted due to inflation and higher labor costs, leading to fewer people eating out and spending less when they do. A survey conducted by Lending Tree revealed that 78% of U.S. consumers now consider fast food a luxury because of the high prices. Many people are dining out less frequently, with 62% stating that they visit fast food restaurants less often, and 65% expressing shock at the rising prices.
According to restaurant analyst Peter Saleh, discounted meals and promotions have been scarce since before the pandemic, making it the longest period without such offers. However, some chains like KFC have already introduced affordable deals, while others like McDonald’s are planning to launch special low-cost menu items soon.
Burger King is gearing up to unveil a $5 “Your Way” meal, which will include a choice of sandwich, nuggets, fries, and a drink. This move is in response to McDonald’s upcoming value menu launch. KFC recently launched the “Taste of KFC Deals” menu, offering items starting at $4.99, including meal options for one or two people. These deals will be available until the end of the year through the chain’s app and website.
McDonald’s is set to introduce a $5 value meal starting on June 25, featuring items like chicken nuggets, McChicken, or McDouble with fries and a drink. This promotion aims to make the menu more affordable for customers, following criticism over rising prices. CEO Chris Kempczinski emphasized the importance of affordability for customers during an earnings call in April.
Wendy’s joined the value meal trend by offering a $3 breakfast combo in May, which includes seasoned potatoes with a choice of breakfast sandwich. These initiatives from fast food chains reflect a concerted effort to win back customers and make dining out more accessible during these challenging economic times.