McDonald's will introduce Extra Value Meals starting Sept. 8, bundling select entrées such as the Big Mac, Egg McMuffin or McCrispy with medium fries or hash browns and a drink at roughly 15% less than buying items separately. Promotional pricing will include an $8 Big Mac meal and a $5 Sausage McMuffin meal for a limited time in most of the country, with customers in California, Alaska, Hawaii and Guam paying $1 more. Visits from U.S. households earning under $45,000 have fallen, higher menu prices have dampened sales growth, and same-store sales rose 2.5% in April–June largely due to pricing rather than traffic.
McDonald's is cutting prices on some combo meals to woo back customers who've been turned off by the rising costs of grabbing a fast food meal. The price drop may induce its rivals, who have run into some of the same pricing issues, to follow. Starting Sept. 8, McDonald's will offer Extra Value Meals, which combine select entrées like a Big Mac, an Egg McMuffin or a McCrispy sandwich with medium fries or hash browns and a drink.
Fast food visits by lower-income consumers dropped by double-digit percentages industrywide in the second quarter, McDonald's said. "Today, too often, if you're that consumer, you're driving up to the restaurant and you're seeing combo meals priced over $10," Kempczinski said during a conference call with investors in August. "That absolutely is shaping value perceptions in a negative way. So we've got to get that fixed."
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