Last month's announcement of the McDonald's $5 Meal Deal deal, which was initially scheduled to last for four weeks, came as stubborn inflation squeezed lower-income consumers, who demanded fast-food brands — especially McDonald's — offer more value.
"We heard our fans loud and clear — they're looking for even more great value from us, and this summer that's exactly what they'll get," Joe Erlinger, president of McDonald's USA, said in a statement in June. "Value has always been part of our DNA."
Now, the company will continue to appeal to value-conscious customers and extend the $5 deal, which includes a McDouble or McChicken, small fries, four-piece Chicken McNuggets and a small drink, beyond its initial four-week window in most of its U.S. markets, CNBC reported .
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According to a memo obtained by CNBC, McDonald's executives wrote that 93% of its restaurants voted to extend the promotion past its original end date later this month. The memo said the majority of locations will extend through August, according to the CNBC report.
The $5 Meal Deal followed a May 29 open letter from Erlinger addressing rumors and misconceptions about McDonald's menu price increases.
"I can tell you that it frustrates and worries me, and many of our franchisees, when I hear about an $18 Big Mac meal being sold — even if it was at one location in the U.S. out of more than 13,700," Erlinger wrote . "More worrying, though, is when people believe that this is the rule and not the exception, or when folks start to suggest that the prices of a Big Mac have risen 100% since 2019."
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Meanwhile, several competing fast-food chains, including Burger King , KFC , Sonic , Taco Bell and Wendy's , have recently announced new value deals.
Burger King's $5 Your Way Meal includes a Whopper Jr., Chicken Jr. or Bacon Cheeseburger with four-piece chicken nuggets, fries and a drink.
The KFC $4.99 Meal For One includes two pieces of dark meat chicken, mashed potatoes with gravy and a biscuit. Additionally, KFC offers $10 Tuesdays , where customers can get an eight-piece bucket of dark meat chicken for $10 every Tuesday this summer.
Sonic's new $1.99 menu features a variety of items, including two new Bacon Ranch and Southwest Crunch Queso Wraps .
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Taco Bell's new build-your-own $5 Cravings Box includes a medium fountain drink, a crunchy taco, a Burrito Supreme, Cinnamon Twists and a Beefy 5-Layer Burrito.
And Wendy's customers can get a free small Frosty this summer by purchasing a $5 Biggie Bag through the Wendy's app. The Biggie Bag, available since 2019, includes a Jr. Bacon Cheeseburger or Crispy Chicken Sandwich, four-piece chicken nuggets, Jr. fries and a small soft drink.
Read More: CNBC
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