Wendy’s is the latest chain to offer discounted prices to customers, as even once reliably cheap fast food has become too expensive for many Americans.
As other burger chains and food retailers also try to appeal to Americans’ desire to save money by purchasing value items, Wendy’s on Monday introduced a new breakfast combo of potato and egg sandwiches for $3. It was announced at
The deal comes after McDonald’s announced a temporary $5 promotion to win back customers alienated by previous menu price hikes.
Surveys have shown that industry-wide price increases are reducing lower-income Americans’ appetite for fast food: A January poll by consulting firm Revenue Management Solutions found that about 25% of people making less than $50,000 a year are eating fast food less because of rising prices.
Click here to view related media.
Click to expand
Companies are also aware of this. “Consumers are becoming more selective with the money they spend as prices rise for everyday spending, putting pressure on the industry,” McDonald’s CEO Chris Kempczinski said. ) said in the company’s first quarter earnings report.[I]It is essential that we continue to prioritize affordability for our customers. ”
Below is a list of restaurant chains and food retailers that have recently reduced prices in response to reduced consumer demand due to rising food prices.
Wendy’s
The fast food chain on Monday announced a new promotion for cash-strapped consumers looking for something better. Starting May 21, Wendy’s customers will be able to take advantage of a $3 breakfast combo deal that includes an egg and cheese English muffin sandwich, bacon or sausage, and a small side of seasoned potatoes. According to the Wendy’s website, breakfast hours are 6:30 a.m. to 8 a.m. local time and vary by restaurant location and delivery time. Breakfast hours end at 10:30 AM at the latest.
mcdonalds
McDonald’s announced last week that it would be launching a temporary $5 meal promotion. The limited-time offer will begin on June 25 and last for approximately one month, the fast food chain said. This deal includes one of the following: a McChicken sandwich, a McDouble His burger, or a four-piece chicken nugget, along with small fried his fries and a small drink.
the goal
Retailer Target announced this week that it would cut prices on 5,000 products as consumers feel pressure to make the most of their budgets. Discounted items include fruit, milk, meat, peanut butter, pet food, paper towels, and more.
huge food
Supermarket chains are also responding to consumer price sensitivity. In April, the company announced it would lower prices on private label staple products including bread, milk, bottled water, bacon, frozen vegetables and more.
More from CBS News
Megan Cerullo
