McDonald's Extends $5 Value Meal To Boost Restaurant Traffic

(RTTNews) - McDonald's (MCD) will extend its popular $5 Meal Deal at most of its U.S. locations through August, according to a report by Bloomberg.

The decision comes as the offer is attracting more people to the fast-food chain's restaurants. Also, around 93 percent of the McDonald's U.S.-based restaurants voted in favor of extending the offer, the report stated.

"Our message is resonating with our millions of customers," Myra Doria, national field president, and Tariq Hassan, U.S. chief marketing and customer experience officer, wrote in the memo, as per CNBC.

"When our customers are ordering the $5 Meal Deal, they aren't visiting the competition, and early performance shows this deal is meeting the objective of driving guests back to our restaurants."

The limited period offer, launched on June 25, offered customers a McDouble or McChicken sandwich, small fries, four-piece Chicken McNuggets, and small soft drink for $5.

According to third-party analytics firm Placer.ai., the offer boosted traffic to McDonald's restaurants.

"We must remember that driving guest counts ultimately propels our business and is the key to sustained growth," the memo stated.

Along with Meal Deal, the company has launched a 'Free Fries Friday' offer, where a free medium fry is available with any $1 minimum purchase via the McDonald's App till the end of 2024.

Apart from McDonald's, other restaurant chains like Burger King (BKW), Wendy's, Starbucks (SBUX), and Taco Bell have also launched similar meal deals to bring-in more customers amid rising food prices and heavy competition.