Last year, the trend of value menus made a comeback in the fast food industry, with major fast food chains launching value meal deals to attract consumers. This year, the battle of value meal deals continues as fast food giants from McDonald’s to KFC reintroduce discounted menus.
As the new year begins, not only McDonald’s has revamped its menu to offer budget-friendly options, but other fast food chains have also recently rolled out discount promotions, indicating that the competition in the realm of value meal deals is far from over.
This month, McDonald’s, Dunkin’, KFC, Subway, Taco Bell, and Wendy’s have all introduced new promotional activities, continuing the theme from last year that affordability is the key factor in drawing back consumers who are tired of inflation.
Typically, the first few months of the year are the slowest for fast food chains in terms of business, thus adding more pressure. Next month, publicly listed companies will announce their new round of earnings, allowing investors to gauge whether the efforts made by fast food restaurants have been successful.
David Henkes, Senior Principal at food industry research firm Technomic, told CNN, “With consumers continuing to cut back, fast food chains are looking for ways to boost customer traffic and find avenues for growth.”
Below are the promotional menus offered by major fast food chains compiled by CNN.
The biggest promotion is happening at McDonald’s. Last week, McDonald’s introduced the “McValue” menu, a new permanent category representing the biggest change since the launch of the $1-$2-$3 menu in 2018. In addition to the popular $5 meal deals, the McValue menu also offers buy-one-get-one options, as well as exclusive discounts for mobile ordering and food and beverage promotions.
Dunkin’ has added a new $5 breakfast combo. The combo includes two breakfast wraps and a 14-ounce hot coffee or 24-ounce iced coffee.
However, this change has angered some fans as it replaces the $6 combo that included a bacon, egg, and cheese sandwich, hash browns, and a medium-sized hot or iced coffee. Some people on social media have complained that the new combo offers less food for the same price, and they are requesting the chain to bring back the previous combo.
KFC has launched a $5 combo this year, with five options including a meal with mashed potatoes, gravy, corn, cheese, and chicken pieces. Other options include mac and cheese with chicken tenders or fries, coleslaw, and chicken pieces drizzled with hot sauce.
The previous $5 combo attempts did not resonate with consumers, forcing the chain to explore new options to better compete with more trendy chicken chain restaurants like Wingstop and Raising Cane’s.
Subway has added new “Daily Deals” that rotate every day. Specific six-inch sandwiches are priced at $6.99, footlong sandwiches at $9.99, and all combos include a small drink and two cookies or a bag of chips.
Subway aims for this transformation to be more successful than the previously introduced value meal deals. Last year’s $6.99 combo that included any six-inch sandwich, a drink, cookies or chips was discontinued early due to poor sales.
The $7 “Luxe Cravings Box” introduced by the Mexican wrap chain has been a success, leading to the expansion of new price points of $5 and $9.
Taco Bell’s press release stated that considering the “post-holiday budget-conscious fans,” the new options all feature Taco Bell’s signature items such as burritos, gorditas, and cinnamon rolls. The new options will be available from January 16th and continue through early June.
Wendy’s has launched a new “2 for $7” limited-time offer, allowing customers to choose from four options including spicy or classic chicken sandwiches, hamburgers, or 10 chicken nuggets, offering 16 different combinations for people.
The new category joins other offers on the menu: the $5 “Biggie Bag” and the 2 for $3 breakfast combo. The 2 for $7 deal will run until early March.