McDonald's $5 meal deal is working, and it shows how hungry diners are for value deals

McDonald's, Starbucks, Chili's, and Burger King are among the restaurants that have added new value meal options this year. For many, they're working.

• McDonald's introduced its $5 meal deal last month as a way to draw in inflation-weary diners.
• Data from Placer.ai suggest that the offer worked immediately after McDonald's introduced it.
• Fast-food chains and some sit-down restaurants have offered competing value meal deals this year.

McDonald's $5 meal deal appears to be drawing in customers.

The fast-food chain started serving its value meal on Tuesday, June 25. McDonald's $5 meal includes a McDouble or McChicken, four Chicken McNuggets, a small order of fries, and a small fountain drink.

Immediately, that day became "McDonald's busiest Tuesday of the year thus far" by visits by customers to the chain, according to Placer.ai, which monitors foot traffic at major retailers and restaurants. Visits on that day were 8% higher than the 2024 Tuesday average to that point.

That record lasted until the following Tuesday — July 2 — when visits grew even more, according to Placer.ai's data.

"Similar patterns repeated across all days following the launch, signifying how well-received this special has been among McDonald's fans," Placer.ai wrote in a blog post summarizing the findings.

McDonald's isn't the only restaurant chain trying to lure customers with meal deals and other special offers as inflation weighs on customers. Burger King and Wendy's also have $5 meal deals.

Even some sit-down chains are competing for consumers tired of rising fast-food prices.

Chili's introduced its Big Smasher Burger this spring, for instance. The burger resembles McDonald's Big Mac and Chili's offered it with a starter and drink for $10.99 — the same price as a Big Mac meal — as part of changes to the chain's "3 For Me" menu.

Chili's restaurants got a boost in foot traffic in late April after it added the burger and a chicken sandwich to the "3 For Me" value deal, Placer.ai found.

Starbucks also saw increased visits in May after the coffee chain began offering a 50% discount for customers who used its app to order on Fridays.

"The foot traffic boosts provided by these limited-time-offers prove that, in times of inflationary pressure, a good deal can continue to bring visitors into a fast-food spot," Placer.ai said in its post.

Do you work for McDonald's or another fast-food restaurant and have a story idea to share? Reach out to this reporter at abitter@businessinsider.com