McDonald’s will be extending its fan-favorite $5 Meal Deal at most of its US locations through the end of the year as cash-strapped customers continue to grapple with inflation.
Franchisees were given the option to vote on whether to extend the value meal and about 80% of US markets voted to keep it through the end of December, according to CNBC.
Not all of the votes have been completed, so more locations may opt to extend the deal during the next few weeks, the outlet said.
The meal includes a McDouble or McChicken, a four-piece nugget, a small fry and a small fountain beverage for just $5.
McDonald’s will be offering a slew of new deals for mobile app users to boost loyalty and increase sales, since mobile app users typically buy more add-ons like french fries.
Mobile customers can enjoy a $0.50 double cheeseburger on National Cheeseburger Day on Sept. 18, get a McCrispy sandwich for just $2 on National Fried Chicken Sandwich Day on Nov. 9 and grab a 10-piece Chicken McNuggets for $1 between Nov. 4 through Dec. 2.
The company will also offer location-specific discounts from certain franchisees.
“Together with our franchisees, we’re committed to keeping our prices as affordable as possible, which is why we’re doubling down with even more ways to save,” McDonald’s USA President Joe Erlinger said in a statement.
During McDonald’s “summer of value,” it extended its $5 Meal Deal through August – which launched in June and was originally set to last just four weeks.
It introduced Free Fries Friday for app users, which extends through the end of the year.
McDonald’s was not alone in its value push.
Fast-service chains including Burger King, Sonic Drive-In, Wendy’s, Dunkin’ and Starbucks entered the value wars this year, pivoting to appeal to inflation-battered customers as they struggled to turn around disappointing sales.
The Golden Arches posted a rare profit miss during the first quarter in April, as sales growth slid for the fourth quarter in a row to 1.9% despite analysts’ predictions of a 2.4% growth.
The company extended its meal deal through the end of August after it posted declining second-quarter same-store sales in July. About 93% of restaurants voted in favor of keeping the deal on the menu.
Now, the company is keeping the value meal around until the end of the year.
After the disappointing July earnings report, Erlinger said in a memo he expected “industry and competitive challenges” to continue, according to CNBC.
“Reversing the narrative and re-establishing our position as the leader on value and affordability is possible, but it cannot be done overnight,” he wrote in the memo. “It will happen through sustained and coordinated actions that show the customer we’re on their side.”
He said the meal deal had performed well and the company’s value-centric image was improving.
The value meal helped improve site traffic to McDonald’s locations, according to analytics company Placer.ai.
The $5 deal launched on June 25, a Tuesday, which was then McDonald’s busiest Tuesday of the year – raking in 8% more visits than the year-to-date Tuesday average, according to Placer.ai data.
Throughout the rest of launch week, visits averaged at least 5% more than the daily year-to-date averages, the data said.
