Fast food giant McDonald’s has decided to extend its popular $5 meal deal for several more weeks. According to a report from Bloomberg, which referenced a memo from the company, a majority of McDonald’s locations in the United States have agreed to keep the promotion going beyond its initial four-week period that began on June 25.
The meal deal will still be available at approximately 93% of McDonald’s restaurants nationwide, although the duration of the promotion may differ by location, with some chains planning to extend it until August.
As consumers face higher food prices, particularly in the fast casual dining sector, McDonald’s value bundle has proven beneficial for the company. Foot traffic analytics company Placer.ai reported that following the rollout of the deal, McDonald’s experienced a significant increase in customer visits, indicating the promotion’s appeal to patrons.
The success of McDonald’s $5 meal deal has put competitors on alert, prompting several to introduce their own value offers. Arby’s has launched a $9 meal bundle, while Sonic has implemented a permanent $1.99 value menu. Taco Bell also recently announced a limited-time $7 Luxe Cravings Box, in addition to its $5 Taco Discovery Box and Cravings Value Menu.
In late May, Burger King announced that its $5 “Your Way Meal” would remain available longer than McDonald’s offering, and stated it would be adding new items to its “Fiery Menu.” Wendy’s has also joined the trend with a $3 breakfast bundle and recently introduced the $5 “Biggie Bag” combo.