Fast food restaurants are locked in a serious struggle to keep inflation-weary customers returning.
And now they’re forced to get more innovative to get customers in the door as the Biden economy gets worse.
That’s why Burger King just put McDonald’s on notice with one huge menu addition that has fast-food fans talking.
National chains leverage scale, purchasing power in scramble to claim ground from local eateries
The price of fast food has been one of the biggest victims of runaway inflation under President Joe Biden.
Price hikes make value harder than ever to find for customers looking for a quick meal at a reasonable price.
Major fast-food chains have combo meals that used to be great values but now routinely cost more than $10 in most of the country.
And the highly popular dollar menu has become a relic of the past.
Fast food prices are up more than 33% since 2019 according to data from Joe Biden’s own Labor Department.
That’s why more and more fast-food customers are eating at home to save money.
That leaves chains fighting over fewer customers in the Bideninflation economy.
Market research firm Revenue Management Solutions reported that customer traffic at fast food restaurants was already down 3.5% during the first three months of the year compared to last year.
McDonald’s global sales have now declined for four straight quarters.
Other major fast-food chains like Starbucks and Wendy’s have also faced significant drops in sales.
McDonald’s CEO Chris Kempczinski said on a post-earnings call that customers are looking for value.
“I think it’s important to recognize that all income cohorts are seeking value,” Kempczinski said.
Burger King announces $5 value meal in bid to duel with McDonald’s meal deals
Now fast-food burger titans McDonald’s and Burger King are duking it out this summer with new value meals to try and lure customers back in.
McDonald’s is introducing a new $5 value meal that will start in late June and run for a month.
Customers get a choice of a McChicken or a McDouble, four McNuggets, French fries, and a drink.
“We know how much it means to our customers when McDonald’s offers meaningful value and communicates it through national advertising. That’s been true since our very beginning and never more important than it is today,” McDonald’s USA told CBS MoneyWatch.
Shortly after McDonald’s announced their $5 meal deal, rival Burger King announced one of their own.
“Regardless of their plans, we are moving full speed ahead with our own plans to launch our own $5 value meal before they do — and run it for several months,” Burger King president Tom Curtis said in a May memo.
And now Burger King has beaten McDonald’s to the punch by releasing its $5 Your Way Meal first.
But they didn’t stop there.
Burger King also announced their $5 meal deal will run all summer long.
Burger King’s deal will give customers the choice of a Whopper Jr., Chicken Jr., or bacon cheeseburger, a four-piece order of chicken nuggets, French fries, and a drink for $5.
McDonald’s is the national leader in fast food and their value meal could have other chains playing follow the leader.
Wendy’s rolled out a $3 breakfast promotion with seasoned potatoes and a Bacon, Egg, & Cheese English Muffin or a Sausage, Egg, & Cheese English Muffin.
While the dollar menus are long gone, some value-priced options are finally returning to fast food restaurants this summer.
But until Biden is either replaced or changes course on his socialist economic policies more and more fast-food patrons will stay home to try and save money.