McDonald’s is extending its $5 value meal beyond the initial four-week period in most U.S. markets, citing a boost in customer traffic. The fast-food giant announced this decision in a memo obtained by CNBC, revealing that 93% of its restaurants voted to prolong the promotion past its original end date later this month. Most locations will extend the offer through August or will soon vote on whether to do so.
The $5 value meal, introduced on June 25, includes a McChicken or McDouble, four-piece chicken nuggets, fries, and a drink, significantly cheaper than buying these items separately.
“Our message is resonating with our millions of customers,” wrote Myra Doria, National Field President, and Tariq Hassan, U.S. Chief Marketing and Customer Experience Officer, in the memo. “When our customers are ordering the $5 Meal Deal, they aren’t visiting the competition, and early performance shows this deal is meeting the objective of driving guests back to our restaurants.”
This move comes as restaurants offer deals to attract diners who are wary of higher prices due to inflation. McDonald’s $5 value meal faces competition from similar deals offered by Burger King, Wendy’s, Taco Bell, and Starbucks, which aim to appeal to value-conscious consumers.
The memo emphasized, “Driving guest counts ultimately propels our business and is the key to sustained growth.”
Coca-Cola contributed marketing funds to support the initial promotion, making it more attractive for franchisees. Some franchisee advocates are pushing for future contributions from the company to sustain the discounted offer.
McDonald’s is set to report its earnings on July 29. The company declined to comment on the extension of the value meal deal.
