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Subway, the world’s largest restaurant chain by number of locations, has announced a aggressive new pricing strategy for its signature footlong sandwiches. In a move that’s set to shake up the fast-food industry, Subway will now offer all classic footlong subs for $6.99 starting August 26th.
This dramatic price reduction comes as Subway aims to recapture market share in an increasingly competitive fast-food landscape. CEO John Chidsey stated, “We’re committed to providing our customers with the best value in the industry. This new pricing makes our fresh, customizable footlongs more accessible than ever.”
The $6.99 price point applies to all of Subway’s classic footlong subs, including popular options like the Italian B.M.T., Spicy Italian, and Veggie Delite. Premium and protein-heavy options will be priced slightly higher but still see a significant reduction from the average $14 price point.
The offer will only be available via app or Subway’s website using the code “699FL.”
Doug Fry, president of Subway North America, said in a press release: “Today’s diner is stretched more than ever, and too often that means a tradeoff on quality, variety or flavor to find an affordable meal. Our menu is full of footlongs for every budget, and this new deal means our guests can get the sandwiches they crave at a great value.”
The move is a bold attempt to drive foot traffic and compete with value menus from other fast-food giants. “Subway is leveraging its core strength – customizable sandwiches – while meeting the price sensitivity of today’s consumers,” said restaurant industry expert Sarah Kelley.
For Subway, the strategy carries some risks. Lower prices could squeeze profit margins, especially for franchise owners. However, the company believes increased sales volume will offset the reduced per-item profit.
To support the new pricing, Subway plans to launch a major marketing campaign emphasizing both value and customization. The chain will also introduce a revamped loyalty program to encourage repeat visits.
This week we saw controversy surrounding Subway and an emergency meeting called between franchisees to discuss ways to “improve traffic and market share.” The chain has been feeling mounting pressure as sales dwindle.
As consumers grapple with inflation in other areas of their lives, Subway’s price cut may prove particularly appealing. The true test will be whether this move can reignite growth for the sandwich giant and force a in fast-food pricing strategies.
