Subway has decided to end its $6.99 Meal Deal earlier than originally planned, as the promotion did not meet expected results. The meal deal, which offered customers a choice of any chef-crafted or custom six-inch sub, a small fountain drink, and either chips or two regular cookies, was launched on November 3 and was intended to run until the end of December. While it will no longer be available in-store, customers can still access it through Subway’s digital platforms until December 26. Additionally, starting Wednesday, Subway will offer 20% off any sub until January 5, 2025.
Despite the Meal Deal yielding the expected number of daily redemptions during its market test, it ultimately fell short of achieving the anticipated overall results. A communication from the company explained that while the promotion was meant to boost traffic and sales, it did not successfully enhance profitability as desired.
In a statement, a Subway spokesperson emphasized the company’s strategic and thoughtful approach to value offerings, stressing the importance of balancing consumer interests with franchisee profitability. The spokesperson also reaffirmed the company’s commitment to continuously testing new value options to drive traffic and encourage repeat visits.
In related news, Subway’s CEO John Chidsey announced his intention to step down at the end of 2024, after five years in the position. Carrie Walsh, the current president of Europe, Middle East and Africa and former global chief marketing officer, will serve as Interim CEO while the company searches for a permanent successor.
This shift in leadership aligns with broader trends in the fast-food industry, as notable chains like Papa John’s, Starbucks, Shake Shack, and Wendy’s have also seen changes in their executive teams this year.
Despite the challenges Subway faces with its promotional strategies, the aggressive focus on adjusting offers and leadership transition indicates an adaptable mindset, which might lead to positive improvements in the near future.
Overall, while the discontinuation of the $6.99 Meal Deal may seem like a setback, Subway is demonstrating a commitment to continuous adaptation in the evolving fast-food landscape, ultimately positioning itself for future success.