McDonald’s store sign in Austin, Texas, October 30, 2023.
Brandon Bell | Getty Images
mcdonalds will be offering $5 worth of meals in the U.S., but only for a limited time.
The promotion includes four items for $5: McChicken or McDouble, four pieces of chicken nuggets, fries and a drink, and will run for about a month starting June 25, according to people familiar with the promotion. It is said that there are plans to do so. Talk about it publicly.
In a statement to CNBC, McDonald’s said: “We know how much it means to our customers when McDonald’s delivers meaningful value and communicates that through national advertising. That’s been true since our beginning, and it’s true today. There’s nothing more important than that.”
CNBC reported last week that the fast food giant is working to add value to its menu, with details being discussed and voted on by franchisees. The first proposal for a meal didn’t clear the necessary hurdles.
Coca-Cola added marketing funds to make the deal more attractive, CNBC reported Friday. “We routinely partner with our customers on marketing programs that meet their consumers’ needs. This allows us to grow our business together,” Coca-Cola said in a statement Wednesday.
Financial terms of the partnership were not disclosed.
The month-long promotion comes at a time when restaurants are finally starting to feel the consumer pullback they’ve been waiting for for years.
McDonald’s recently reported a mixed first quarter, with U.S. same-store sales slightly below expectations. Higher prices have increased the average size of checks, but soaring costs have driven some consumers away.
“Consumers face rising prices in their daily spending and continue to be more selective about how much they spend, which puts pressure on them.” [quick-service restaurant] ,” CEO Chris Kempczinski said during an April 30 earnings call.
He added that McDonald’s needs to “focus” on affordability to attract customers.
“Great value and affordability have always been hallmarks of the McDonald’s brand, and all three legs of the stool come together to deliver it when customers really need it. That’s the power of the Golden Arches. , a promise,” said John. Mr. Palmaccio, owner and operator of McDonald’s and chairman of the Operators National Advertising Fund, said in a statement to CNBC about the $5 promotion.
—CNBC’s Amelia Lucas contributed to this report.
