McDonald’s to launch $5 meal promo in effort to reinvigorate sales

May 15, 2024
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McDonald’s plans to launch a $5 meal promo in an effort to lure back inflation-weary customers, according to a Wall Street Journal report

The approximately monthlong offer is slated to begin June 25 and will include a choice of either a McChicken, a McDouble or four-piece chicken nuggets as well as fries and a drink.

“We know how much it means to our customers when McDonald’s offers meaningful value and communicates it through national advertising. That’s been true since our very beginning and never more important than it is today,” McDonald’s USA told CBS MoneyWatch. 

The company would not confirm the meal plan.

“Great value and affordability have always been a hallmark of McDonald’s brand, and all three legs of the stool are coming together to deliver that at a time when our customers really need it,” McDonald’s franchise owner John Palmaccio said.  

Bloomberg first reported McDonald’s plans to offer a $5 promo meal, which required approval from franchise owners. Palmaccio and other franchise owners gave the new promotion their consent this week, with McDonald’s thanking those operators in an internal message Tuesday night, the Journal reported. 

Talk of the upcoming $5 meal promo comes weeks after McDonald’s executives reported slower growth in foot traffic at its restaurants. Some inflation-weary customers are cutting back on fast-food dining after many chains boosted menu item prices. Between 2014 and 2024, Popeye’s, Jimmy John’s and Subway hiked their food prices 86%, 62% and 39%, respectively. 

The company has to be “laser-focused” on keeping prices affordable to convince customers to return, McDonald’s CEO Chris Kempczinski said during an April 30 earnings call with analysts and investors.

“Consumers continue to be even more discriminating with every dollar that they spend as they face elevated prices in their day-to-day spending, which is putting pressure on the industry,” Kempczinski added. “[I]t’s imperative that we continue to keep affordability at the forefront for our customers.”

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