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McDonald's is offering a fresh round of discounts for the rest of 2024 in the latest sign that restaurants and retailers are having to go the extra mile to win back thrifty shoppers and diners.
At the center of the offerings is the $5 meal, which McDonald's said Thursday it would extend for the second time.
The meal, which includes a McDouble or a McChicken, a small order of fries, a four-piece order of Chicken McNuggets, and a small drink, will now be available in most of the markets where McDonald's operates through December. Some restaurants might increase the price of the McDouble meal to $6, though, McDonald's said.
McDonald's started offering the $5 meal in late June. Back then, it intended to provide the deal for about a month, but most restaurants ended up extending the offer through August.
And McDonald's Thursday announcement includes a variety of other deals that the fast-food chain will offer for a limited time or in specific parts of the US.
McDonald's extension of the $5 meal and the new promotions show that diners still have plenty of appetite for cheap food options.
Although inflation has slowed down for both groceries and restaurant food this year, few prices have actually fallen. That's left many consumers looking to stretch their food budgets as much as possible.
Restaurants from McDonald's to Chili's have responded by rolling out new meal deals, hoping to get those customers into their dining rooms or ordering online.
McDonald's is also offering 50-cent Double Cheeseburgers on September 18 and $2 McCrispy sandwiches on November 9, according to its announcement. Diners can also get 10 McNuggets for $1 between November 4 and December 2. It will continue to offer customers a free medium order of fries with a purchase of at least $1 on Fridays, it said.
Franchisees will also offer their own regional specials this fall, McDonald's said.
"We're committed to keeping our prices as affordable as possible, which is why we're doubling down with even more ways to save," McDonald's USA President Joe Erlinger said.
In July, McDonald's executives said early results showed that the $5 meal deal had increased foot traffic at the company's restaurants. Global sales were still down 1% during the company's most recently reported quarter, though.
A subsequent survey of consumers from Morning Consult found that the deal has done little to change diners' perception of whether fast food is a good deal.
Many big food brands and grocery chains are also backing off on price increases or offering discounts.
The CEO of PepsiCo, which makes snacks including Cheetos puffs and Lay's potato chips, indicated in July that it might cut prices after snack sales volumes dipped.
And Amazon Fresh announced a new round of discounts and a line of store-brand groceries this week.
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