Burger King, which is owned by Restaurant Brands International, will introduce its own $5 meal deal on Thursday, a company representative announced. This comes at the same time that McDonald’s, its competitor, is preparing to introduce a comparable meal deal.
“We are bringing back our $5 ‘Your Way Meal’ as agreed upon with our franchisees back in April,” the spokesperson said.
Fast food franchises in the United States struggle for consumers in a time when people are eating more meals at home due to the cost of living crisis. As a result, businesses are focusing on providing better discounts and deals in an effort to increase traffic.
Bloomberg News first reported details of Burger King’s $5 menu launch, adding that the company would launch the deal before McDonald’s.
Bloomberg reports that Burger King’s deal includes choosing one of three sandwiches, including nuggets, fries and a drink.
Burger King plans to run the offer for several months, the report said, citing the memo. Meanwhile, McDonald’s promotion will run for about four weeks, Bloomberg News previously reported.
In addition to $5 “Your Way Meals,” the Burger King chain is reportedly testing two other value platforms that could be finalized in the second half of this year.
In early May, McDonald’s franchisees in the United States were considering introducing $5 meal deals, people familiar with the matter told Reuters.
Other burger chains are also increasing their special offers, with Wendy’s announcing a $3 breakfast deal earlier this week.
McDonald’s missed profit estimates last quarter for the first time in two years. The company said consumers are “more discriminating with every dollar they spend.”
In contrast, rival restaurant brands beat Wall Street expectations in their quarterly results, helped by a rebound in demand at Burger King locations.
