McDonald’s Introduces $5 Meal Deal Amid Profit Decline

In response to a significant drop in profits, McDonald’s has launched a $5 meal deal across many of its U.S. locations, aiming to attract budget-conscious families. The deal, which began in June, includes a choice of a McDouble or McChicken, small fries, a four-piece McNugget, and a small fountain drink. This initiative comes as more families opt to dine at home to save money, reflecting broader economic challenges. CEO Chris Kempczinski emphasized the importance of adaptability in challenging times, stating, “The hallmark of a great company is its ability to perform in good times and bad.” He expressed confidence in McDonald’s ability to reignite growth across its major markets despite the current economic climate. The fast-food chain is responding to rising grocery prices, which have surged by an average of 21 percent, according to the Associated Press. Joe Erlinger, president of McDonald’s U.S. operations, acknowledged the ongoing financial strain on consumers, predicting that many will continue to feel the effects of a higher cost of living for the foreseeable future. This sentiment is echoed by a recent poll indicating that approximately 80 percent of Americans now view fast food as a luxury purchase. As McDonald’s rolls out its $5 meal deal, other restaurants are adopting similar strategies to attract customers, highlighting the competitive landscape of the fast-food industry in the face of economic pressures.