From: Joyce Segal <joyceck10@gmail.com>
Date: Tue, Jun 25, 2024 at 7:10 AM
Subject: Mickey D?
To: Kim Cooper <kimc0240@gmail.com>
There's a new $5 meal deal on the block—but this one doesn't involve a cutesy jingle or a footlong sandwich. McDonald's rolls out its new value offering today, aiming to lure back cost-conscious customers who turned away from the chain amid increasing prices.
The deal includes four items—a McChicken or McDouble, four-piece nuggets, small fries, and a small drink—but will only be available for a month.
Why is Mickey D's doing this? People aren't flocking to the Golden Arches like they used to.
- McDonald's missed sales expectations in Q1.
- It's also battling a perception fueled by viral social media posts that the once-reliably affordable chain has gotten too expensive.
McDonald's is hoping the $5 meal deal will bring back customers. Coca-Cola contributed $4.6 million to subsidize the promotion after some franchisees said it would eat into their profits.
Racing to the lowest price: McDonald's may be the largest fast-food chain by sales volume, but it has competition tougher than a day-old fry. Last month, shortly after Bloomberg reported the chain's intentions to bring out the deal, Burger King debuted its own $5 meal deal, Wendy's dropped a $3 meal deal, and Starbucks jumped in with a $5 coffee and pastry combo.—CC
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