According to him, this situation has been going on for the last four to five months due to inflation and a decline in customers’ disposable income. In response, fast food chains across the country are introducing options that offer short-term value.
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“Typically the value proposition is to bring customers into the restaurant who haven’t been in a while or who don’t come in often because they feel some of the items are too expensive,” Nassar said.
Here’s a list of fast food chains offering new value options:
Burger King has launched a $5 Your Way Meal with a choice of a Whopper Jr., Chicken Jr., or Bacon Cheeseburger with a four-piece chicken nugget, value fries, and a value soft drink. McDonald’s $5 Meal Deal, which will launch next week, will offer four items: a McChicken or McDouble, four-piece chicken nuggets, fries, and a drink, according to CNBC. Taco John’s has added a $2 Refried Bean Tostada and a $3 Beef Tostada to its Value Menu. The menu now has nine items ranging from $2 to $4. Wendy’s has launched a $3 English Muffin Deal. Customers will receive a small seasoned potato when they choose either a bacon, egg, and cheese English muffin or a sausage, egg, and cheese English muffin. White Castle has added two limited-time chicken ring flavors to its menu: Hidden Valley Ranch Chicken Rings and Smoky BBQ Chicken Rings. These versions of chicken rings are priced at $3.99 for 12 pieces.
The “sweet spot” for a value option is offering a deal where a customer can get a few items, some fries and a drink for $5 to $6. Such promotions usually work well, Nassar said.
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He sees value menus as a long-term solution to attract longtime restaurant industry customers back to their restaurants. Restaurants like Taco Bell and McDonald’s are known for their value menus, he said.
“Some restaurants are pricing themselves too high to compete, but many others are focused on the customer and making sure they can afford their products,” Nassar said. “Many owners are cutting their profits every year just to keep growing their business with their customers.”
American QSR owns and operates 70 Popeyes and Wendy’s restaurants in the Texas region. Nassar has nearly 30 years of experience overseeing franchise acquisitions and optimizing performance at the individual employee, restaurant and overall business levels. Prior to joining American QSR, Nassar served as Chief Operating Officer, overseeing more than 200 restaurants nationwide, including Taco Bell.
