NEW YORK — McDonald’s is hoping a new value menu will win back customers that have been put off by its higher prices.
On Friday, the fast-food chain unveiled the “McValue” menu, a new, budget-friendly category that will roll out at US restaurants on January 7, 2025. The popular $5 meal deal, unveiled earlier this year, will be the centerpiece of it. The menu will also feature a new “Buy One, Add One for $1” option that includes breakfast.
McDonald’s is trying to reignite growth after a dismal few quarters. The value perception of the chain has dimmed among its cash-conscious customers because the average price of its menu items has soared around 40% over the past five years, in line with rising costs according to the company.
“When it comes to value, we know there’s no one-size-fits-all. We’ve worked closely with our franchisees to create a new platform that will let our customers define value on their own terms,” Joe Erlinger, president of McDonald’s USA, said in a statement.
The chain had been making some progress before an E. coli outbreak in October caused sales and traffic to nosedive. McDonald’s announced last week that it’s pumping $100 million into marketing and aid to franchises most heavily affected by the health scare.
Also on the McValue menu are more in-app offers, plus local food and drink deals organized by its franchisees.
The new menu category is McDonald’s largest value-minded effort since 2018, when it priced someitems from $1 to $3.
But the dollar menu proved relatively unpopular compared to the far more successful $5 value meal, which rolled out this summer. Customers weren’t necessarily shopping for inexpensive food as much as more bang for their buck.
Ultimately, inflation has all but wiped out the items found at the lower end of that pricing tier. The McValue menu will replace what’s left of it.
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