McDonald’s is considering a $5 menu offering to lure back customers who have complained that the fast-food restaurant has raised its prices too high, according to Bloomberg.
While the company has announced it is looking to launch a $5 meal deal, it has not yet put one in place.
According to a person who spoke with Bloomberg on the condition of anonymity, the company tried to implement the $5 meal deal but was rebuffed by McDonald’s franchisees, who pay into an advertising fund to be allowed to offer opinions on major marketing campaigns.
Franchisees run about 95% of U.S. McDonald’s restaurants, and earlier this year they decided not to support the $5 menu option, the person told Bloomberg.
Some franchise operators were concerned about losing money on the roughly four-week promotion, according to the story.
McDonald’s CEO Chris Kempczinski said on an April 30 earnings call with analysts and investors that the company has to be “laser-focused” on keeping prices affordable to win customers back, according to CBS News.
“Consumers continue to be even more discriminating with every dollar that they spend as they face elevated prices in their day-to-day spending, which is putting pressure on the industry,” Kempczinski added. “It’s imperative that we continue to keep affordability at the forefront for our customers.”
The new offering from the restaurant chain comes at a time when low-income consumers are beginning to pull back on spending, particularly at fast-food brands, according to CNBC.
What would you get for $5?
Four items would be included in the value meal. The source told Bloomberg the $5 meal could include either a McChicken sandwich — a fried chicken patty on a bun — or a McDouble — two beef patties on a bun with a slice of cheese in between — plus four chicken nuggets, fries and a drink. The value meal was first reported by Bloomberg.
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