McDonald’s has heard its customer complaints about high food prices and it’s bringing back a $5 value meal to appease those criticisms—but don’t look for the deal to last too long.
Starting June 25, the company will offer four items, a McChicken or McDouble burger, a four piece chicken nuggets, fries and a drink—for just five bucks. But that offer will only last for a month.
The deal delivers on a promise made by CEO Chris Kempczinski, who said the company would increase the number of cost-effective menu items after McDonald’s missed earning expectations for the first time in almost four years in 2023’s fourth quarter
Kempczinski, at the time, conceded people making less than $45,000 per year—who were at one time, the chain’s core customer base—were no longer dining at McDonald’s. Overall fast-food traffic was down 3.5% in the first quarter compared to a year ago, as prices have largely risen across the board.
To avoid losing money on the value meal deal, McDonalds is working with The Coca-Cola Company, which will subsidize the specials, kicking in $4.6 million, The Wall Street Journal reports. Coca-Cola works with partners routinely for promotions.
McDonald’s has been under fire more than most, though, as customers have complained about $8 chicken sandwiches and $18 Big Mac meals, coining the phrase “McFlation”.
A short-term deal might get people back into the stores for the short term, but the big question is will those customers keep coming after menu prices return to normal? Other promotions and the return of fan-favorite menu items (like the McRib) can stem some of the red ink, but if customers still view the chain as unaffordable, it could continue to see losses.
