What's happened
McDonald's has announced the extension of its popular $5 meal deal through December 2024, following strong consumer demand. The meal includes a McDouble or McChicken, fries, nuggets, and a drink. This move reflects ongoing efforts by fast-food chains to attract budget-conscious diners amid inflationary pressures.
Why it matters
What the papers say
According to Axios, McDonald's USA President Joe Erlinger stated, 'Together with our franchisees, we’re committed to keeping our prices as affordable as possible.' This sentiment is echoed by Business Insider UK, which noted that the $5 meal deal has significantly increased foot traffic at McDonald's locations. The NY Post reported that about 80% of franchisees voted to extend the deal, reflecting strong support within the company. The competitive landscape is further illustrated by Dunkin's introduction of a $6 value meal, showcasing a broader trend among fast-food chains to offer budget-friendly options.
How we got here
The $5 meal deal was launched in late June 2024 as part of McDonald's strategy to boost sales amid rising inflation. Initially intended for a month, it was extended due to positive consumer response and increased foot traffic at restaurants.
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McDonald's Corporation is an American fast food company, founded in 1940 as a restaurant operated by Richard and Maurice McDonald, in San Bernardino, California, United States.
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