A McDonald’s store sign in Austin, Texas on October 30, 2023.
Brandon Bell | Getty Images
McDonalds is about to offer a $5 meal value in the United States, but only for a limited time.
The promotion will include four items for $5 — a McChicken or McDouble, four-piece chicken nuggets, fries and a drink — and will last about a month, starting June 25, according to a person familiar with the deal who does not was not allowed. to speak about it publicly.
“We know how much it means to our customers when McDonald’s delivers meaningful value and communicates it through national advertising. This has been true since our beginnings and has never been more important than today,” said McDonald’s in a statement to CNBC.
CNBC reported last week that the fast food giant was working to bring value offerings to menus, with details being discussed and voted on by franchisees. An initial proposal for the meal did not clear the necessary hurdles.
Coca-Cola added marketing funds to the equation to make the deal more attractive, CNBC reported Friday. In a statement, Coca-Cola said: “We regularly collaborate with our customers on marketing programs to meet consumer needs. This helps us grow our business together.”
The financial terms of this partnership have not been disclosed.
This month-long promotion comes at a time when restaurants are finally starting to feel the long-awaited pushback from consumers.
McDonald’s recently reported a mixed first quarter, with U.S. same-store sales slightly below expectations. Rising prices have helped increase the average check size, but some consumers have backed away due to rising costs.
“Consumers continue to be even more discriminating with every dollar they spend as they face high prices in their everyday spending, putting pressure on the (fast food) industry,” the CEO said Chris Kempczinski on the company’s website. earnings call on April 30.
He added that McDonald’s needs to focus on affordability to attract customers.
“Great value and affordability have always been the hallmarks of the McDonald’s brand, and all three legs of the stool are coming together to deliver this at a time when our customers really need it.” This is the power and promise of the Golden Arches,” John Palmaccio, owner and operator of McDonald’s and chairman of the National Operators Advertising Fund, said in a statement to CNBC about the $5 promotion.
— CNBC’s Amelia Lucas contributed to this report.
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