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Burger King is doubling down on its value menu with an extended $5 meal deal offer now running through October. The fast-food giant’s decision comes on the heels of McDonald’s recent announcement to extend its own $5 meal deal through August.
With inflation impacting consumers’ wallets, these value-driven promotions have become increasingly popular among fast-food chains. Burger King’s $5 Have It Your Way Meal includes a choice of Whopper Jr., Chicken Jr., or Bacon Cheeseburger, alongside four-piece chicken nuggets, fries, and a drink.
This move by Burger King is a strategic response to the competitive landscape. By extending its $5 meal deal, the chain aims to attract more customers and potentially steal market share from competitors. As the battle for budget-conscious consumers intensifies, it will be interesting to see if other fast-food chains follow suit with similar value offerings.
Burger King also saw lower sales during their last earnings report which is in line with what their competitor’s in the fast food industry are seeing. McDonald’s saw a worse decline than Burger King with almost a 1% decline during the last quarter.
Morningstar analyst Sean Dunlop said on the situation:
“Results look better when juxtaposed against category peers (such as Wendy’s, McDonald’s and Yum Brands), with quick service restaurants continuing to broadly underperform fast casual so far during Q2 earnings.”
McDonald’s recently spoke about bringing even more value back to the chain to get more customers through the drive-thru. The main draw would be bringing back the $1, $2, $3 menu. Will Burger King follow suit? Only time will tell…
