At BK, customers can get the services they want at a much cheaper price.
Following McDonald's unveiling its own $5 value meal promotion earlier this month, the fast food burger chain is moving to bring back its $5 “Get Your Way Meal,” CNBC reports.
“As agreed to with our franchisees in April, we are bringing back our $5 'Your Way Meal,'” a company spokesperson said.
Burger King's Value Meal includes a choice of three sandwiches, chicken nuggets, fries and a drink. The promotion will begin before McDonald's and run for several months.
McDonald's $5 deal is set to last through the month of June and includes a McChicken or McDouble, four chicken nuggets, fries and a drink.
“It's absolutely to be expected from Burger King,” Jonathan Mays, editor in chief of Restaurant Business magazine, told NBC Nightly News. “They're starting this earlier and they're planning on keeping it going longer, so they're being pretty aggressive.”
The launch of the new deals comes as inflation and rising prices have slowed business for many brands and chains, with fast-food restaurants suffering the biggest sales slump.
According to the Bureau of Labor Statistics, fast food prices are expected to rise 28% from 2019 to 2023, a faster rate than inflation for the overall U.S. economy over that period.
“Traffic has been down overall this year, but traffic has really been down in fast-food restaurants,” Mays said. “Fast-food restaurants need to devote some of their marketing to value and letting their customers know, 'We heard you, we're doing something, and we've got $5 deals for you.'”
Another fast-food chain, Wendy's, has also rolled out its own value combo meals in recent weeks. The national chain has launched a range of value meals under $6, along with $3 breakfast items.
Target plans to slash prices on thousands of household staples this summer, from diapers to milk.
Grocery savings aren't limited to fast food chains: Major grocers like Target and Walmart are offering sales to help American consumers shoulder the burden of rising prices.
Last week, Target Corp. announced price cuts on 5,000 frequently purchased food, beverage and other essentials as price fatigue has slowed sales at the retailer.
And Walmart, already known for its low prices, launched a new brand called Better Goods to attract customers who are not brand loyal and are looking for lower prices.
Bettergoods products sell for between $2 and $15, with most items selling for under $5.
