McDonald’s decision to extend its $5 value meal promotion beyond the initial four weeks in most of its U.S. markets has proven to be a successful strategy. According to a memo obtained by CNBC, 93% of McDonald’s restaurants have voted to extend the promotion past its original end date. The majority of locations will continue to offer the $5 value meal deal through August, or until further decisions are made.
The $5 value meal, which was introduced on June 25, includes a McChicken or McDouble, four-piece chicken nuggets, fries, and a drink for a significantly lower price than if purchased individually. The positive response from customers is evident in the memo by Myra Doria, national field president, and Tariq Hassan, U.S. chief marketing and customer experience officer, stating, “Our message is resonating with our millions of customers.” The memo further emphasizes that the $5 Meal Deal is effective in bringing customers back to McDonald’s restaurants rather than to competitors.
In a highly competitive market, McDonald’s faces competition from other fast-food chains like Burger King, Wendy’s, Taco Bell, and even Starbucks. These chains have also offered meal deals ranging from $3 to $5 to attract value-conscious consumers. The decision to extend the $5 value meal promotion reflects McDonald’s commitment to driving guest counts, ultimately leading to sustained growth for the business.
Coca-Cola’s contribution of marketing funds has played a crucial role in making the initial value offer more appealing to McDonald’s franchisees. This support has been instrumental in ensuring the sustainability of the discounted offering for operators in the long run. The collaboration between Coca-Cola and McDonald’s demonstrates a commitment to driving business growth through strategic partnerships and promotional activities.
McDonald’s $5 value meal promotion extension is a testament to the positive impact it has had on increasing customer traffic, outperforming competitors, and driving sustained growth for the business. By prioritizing customer satisfaction, strategic partnerships, and value-driven offerings, McDonald’s continues to solidify its position as a leading fast-food chain in the market.