Brian Wendig, MJP Wealth Advisors President, and Ryan Payne, 'Pain Points of Wealth' podcast host, discuss Big Tech reporting and key earnings and revenue projections for McDonald's.
McDonald's began rolling out a new prix fixe menu at its restaurants on Tuesday as part of a bid to revive traffic at its restaurants. Budget-conscious customers.
The “McValue” menu category, part of the fast-food company's comeback strategy, offers customers a “buy one, get one for $1” option for breakfast, lunch and dinner.
The company is also rolling out app-specific deals to drive customers to the platform, such as free medium fries with a $1 purchase every Friday through 2025 and a free McCrispy chicken sandwich for new app users.
MCDONALD'S will add 'MCVALUE' menu, boost meal deal offers
McDonald's “McValue” menu debuted on January 7. (McDonald's)
The company said its local franchisees are also rolling out their own special deals on items like the McGriddle and app-exclusive offers like 20% off $10 or more.
There is McDonald's Over 13,500 restaurants In the United States
In its third-quarter earnings call in October, executives said the company is working to build a “more holistic US value platform” starting this year to gain an edge over competitors.
HOW MCDONALD'S PLANNING TO GET CUSTOMERS BACK
An employee fills a bag with French fries at a McDonald's restaurant. (via Matthias Balk/Photo Alliance/Getty Images)
The quick-service sector faced slower traffic in the back quarter as inflation-wary consumers continued to eat at home more often. McDonald's CEO Chris Kempczynski said the trend continued in the third quarter.
When the company “A challenging environment is expected In 2024,” its performance for the year was below his expectations, Kempczynski said.
He acknowledged that its “price leadership gap has narrowed.” In response, Kempczynski said the company “has moved urgently to partner with our franchisees” to improve its value proposition in most of its key markets.
Get Fox Business on the go by clicking here
The company said Tuesday that its latest value menu offering is cheaper than its $5 meal deal, which is being extended for a second time. This time it will last until next summer and will be part of the McValue platform.
In October, McDonald's CFO Ian Borden said the $5 meal deal was responsible for “bringing customers back” to the restaurants throughout the third quarter.
Borden said the deal, which launched in June, “has successfully increased traffic share with this group for more than a year, particularly with low-income consumers.”
Here is the new standard menu platform:
The $5 meal deal includes a choice of a McDouble or McChicken sandwich with a small fry, 4-piece chicken McNuggets and a small soft drink for $5.
McValue Breakfast Buy One, Add One For $1 Menu Items:
- Sausage McMuffin
- Sausage biscuits
- Sausage Burrito
- Hash Browns
McValue Lunch/Dinner Buy One, Add One For $1 Menu Items:
- 6-Piece Chicken McNuggets
- Double Cheeseburger
- McChicken
- small fry