McDonald's is reportedly working to create a $5 Value Meal to help offset slowing sales.
CHICAGO, Ill. (WTVO) — McDonald's is reportedly working to create a $5 Value Meal to help offset slowing sales.
According to a report by Bloomberg, the $5 meal would include four items: a McChicken or McDouble sandwich, four-piece Chicken McNuggets, fries, and a drink. Sources confirmed those potential offerings to CNBC, but the chain declined to comment to the outlet.
The Chicago burger giant previously said inflation-weary customers are eating out less often in many big markets.
McDonald’s President and CEO Chris Kempczinski said during an investor call last month that the company needs a nationwide value message and marketing to back it up. In some areas, it’s losing out to competitors on customers’ perception of value and affordability, he said. Wendy’s is currently offering free fries with the purchase of a medium burger, for example.
“Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending, which is putting pressure on the [quick-service restaurant] industry,” he said, adding that McDonald's needs a “nationwide value message.”
Late last month, Ian Broden, CFO of the global fast-food chain, said the restaurant has plans to launch a “larger satiating burger,” the food website delish reported. Few details were released about the product, but it will reportedly be tested in a few markets later this year. This comes after McDonald's brought back its Double Big Mac.
A recent study found that, when compared with other fast food restaurants, prices at McDonald's have increased the most over the last decade.
The Associated Press contributed to this report.
