CBS NEWS – McDonald’s is considering adding a $5 meal to its menu across the U.S. as a way to coax customers back into its restaurants, according to a source familiar with the plans.
The meal could include a choice of either a McChicken, a McDouble or four-piece chicken nuggets as well as fries and a drink, the person told CBS MoneyWatch.
Leaders at McDonald’s corporate offices are still in talks with franchise owners about introducing the $5 meal, the source said.
The discussions about rolling out a new budget meal come just weeks after McDonald’s executives reported slower growth in foot traffic at its restaurants.
Some inflation-weary customers are cutting back on fast-food dining after many chains, ranging from McDonald’s to Subway, have boosted prices in recent years to offset higher labor and ingredient costs.
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The company has to be “laser-focused” on keeping prices affordable to convince customers to return, McDonald’s CEO Chris Kempczinski said.
“Consumers continue to be even more discriminating with every dollar that they spend as they face elevated prices in their day-to-day spending, which is putting pressure on the industry,” Kempczinski added. “[I]t’s imperative that we continue to keep affordability at the forefront for our customers.”
Among all U.S. fast food chains, McDonald’s raised its menu prices the most between 2014 and 2024, according to personal finance website FinanceBuzz …