*McDonald’s aims to lure customers back with wallet-friendly deals amidst nationwide inflation.
The renowned fast-food giant faces profit declines amid economic challenges. To counter this, McDonald’s is eyeing a solution: a $5 meal option may soon grace menus nationwide, as reported by CBS News, aiming to reignite consumer interest and foot traffic.
Pending franchisee approval, the proposed $5 meal would feature a selection of a McChicken, a McDouble, or four-piece chicken nuggets as the main entrée, paired with fries and a drink.
According to The Blast, at the April 30 earnings call, McDonald’s CEO Chris Kempczinski said, “Consumers continue to be even more discriminating with every dollar that they spend as they face elevated prices in their day-to-day spending, which is putting pressure on the industry.”
“It’s imperative that we continue to keep affordability at the forefront for our customers,” he added.
CBS cites FinanceBuzz, indicating that McDonald’s experienced the highest menu price hikes between 2014 and 2024, as reported by the finance website.
“When you look at McDonald’s, they’re not getting a majority of high-income customers — the middle- and lower-income class are the bulk of their business,” analyst and president of Kalinowski Equity Research Mark Kalinowski told CBS MoneyWatch. “They need to be cautious with their spending, and that’s what you’re seeing right now.”
Two people familiar with the $5 plan speak out in the TODAY report below.
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