Fast food chains across the country have loosened their grip on our wallets, and it’s time to see if customers respond.
From McDonald’s to Taco Bell and more, these restaurants are launching inexpensive meals in hopes of attracting price-conscious customers.
People have been voicing their displeasure on social media for months over the seemingly ever-increasing prices of popular fast-food items. Videos of expensive Filet O’ Fish sandwiches, double cheeseburgers, single hash browns and even reports of the end of free refills have generated thousands of views and fueled anger.
While low-income consumers are beginning to cut back on spending at fast-food chains like KFC and Starbucks (both of which have reported declines in sales), other chains have been turning to the paper plate for some time, offering tempting, cheap menu deals.
Here’s what some of the most popular restaurants have been up to during the so-called price-performance crisis.
Pizza Hut
In October 2023, Pizza Hut announced its $7 Deal Lover’s Menu, which offers two or more items (medium pizza with one topping, eight pieces of boneless wings, Pizza Hut Melts, breadsticks, desserts and more) for $7 each.
Taco Bell
On January 8, Taco Bell introduced its new Cravings Value Menu, which includes the Spicy Potato Soft Taco, Cheesy Fiesta Potatoes, Cheesy Double Beef Burrito, 3-Cheese Chicken Flatbread Melt, and the $1 Cheesy Roll Up.
“We’re introducing all-new ways to save on our menu and doubling down on exclusive digital offers, so expect more from us this year,” said Taylor Montgomery, Taco Bell’s chief marketing officer, in the announcement. “We’re walking our talk when it comes to value, and we’re just getting started.”
In April, the chain also offered a limited-time Taco Discovery Box for $5 on Taco Tuesdays, valid through June 4. The deal included a crispy taco, a Doritos Locos taco, a Cantina Chicken Crispy Taco and a medium drink.
Then on June 27, Taco Bell announced its new $7 Luxe Cravings Box, which offers “big fan favorites at an affordable price.” Taco Bell’s limited-time box includes a Chalupa Supreme, a Beefy 5-Layer Burrito and a Double Stacked Taco, as well as chips with nacho cheese sauce and a medium soft drink. According to the chain, the included items are available at 55% off.
Fast food restaurants with seating
Restaurants with on-site service are also benefiting from this movement.
In April, Denny’s announced its plan to attract price-conscious customers, including the return of low-cost All-Day Diner deals starting at $5.99.
Applebee’s and Chili’s also advertise their own low-price offers.
John Peyton, CEO of Dine Brands, the parent company of Applebee’s and IHOP, told TODAY.com that his company is monitoring restaurant spending habits and preparing for a shift in consumers toward more price-conscious shopping.
Peyton told CNN he hopes customers will choose his restaurants over fast-food chains once prices begin to stabilize.
“You get our burger for $9.99,” he told the outlet.
McDonald’s
The Golden Arches has been preparing its own menu offering for some time. On May 10, CNBC reported that McDonald’s USA is introducing a $5 menu.
The limited-time $5 menu has been available since June 25 and includes four items: a McChicken or McDouble, four chicken nuggets, fries and a drink.
On June 25, McDonald’s USA President Joe Erlinger spoke with TODAY’s Hoda Kotb and Savannah Guthrie about the deal.
“I’ve been zigzagging around the country, been to our restaurants, participated in focus groups – customers are telling us they’re really at their limits,” Erlinger said of McDonald’s guests. “They’ve felt the pressure of inflation over the last few years, and so this is a great opportunity for McDonald’s to offer them value.”
During the interview, Hoda said the four-week limited availability of the meal was disappointing.
“We’re already seeing some franchisees continue to do this,” Erlinger responded, adding that markets like Denver, Dallas, Phoenix, Las Vegas and more have already opted to continue offering the low-cost menu after the month is over.
“We really want to talk about it nationally for four weeks and then we think it will be a local promotion that lasts longer than four weeks,” he said.
Wendy’s
On May 20, Wendy’s announced a breakfast special with a small portion of seasoned potatoes and your choice of English muffin sandwich (bacon, egg and cheese or sausage, egg and cheese) for the low price of $3.
The morning special joins the chain’s long list of other daily specials, such as the $5 and $6 Biggie Bags or the $2 for $6 and $4 menu deals, all of which offer various menu items at heavily discounted prices.
Wendy’s had previously boasted of a similarly cheap breakfast offer: the “Breakfast Biggie Bundles,” which were announced last August and offer customers the choice of two select items for $3.
The Wendy’s combination, which according to the chain is “a delicious and Value– a good reason to jump out of bed in the morning” focuses on the one word that defines the fast-food restaurants’ latest battle: value.
Not to be outdone, five days before McDonald’s launched its own value meal, Wendy’s announced that it would celebrate the Biggie Bag’s fifth anniversary by adding a free Frosty to the mix.
Burger King
On June 24, Burger King joined in the fun and introduced its $5 Duo deal, which includes the choice of any two items from a selection of BK Royal Crispy Wrap flavors and/or a Whopper Jr.
In a memo seen by Bloomberg, Burger King said the company plans to bring the dish back to market before McDonald’s removes its own dish from the menu on June 25 – a goal the company has achieved.
The chain is also offering a $5 “Your Way Meal Deal” that includes a choice of Whopper Jr., Bacon Cheeseburger and Chicken Jr., plus fries, four chicken nuggets and a soft drink. The offer was originally scheduled to run for “several months” and begin in June, but officials announced on August 8 that it would be extended through October 7.
For those who wonder why the term “value wars” has stuck: It is because the chains actually Saying They’re competing on affordability. Erlinger said it on TODAY, and several other chains agree: This is a battle of deals that won’t end anytime soon.
This article was originally published on TODAY.com.
