March 11 (Reuters) – McDonald’s will introduce menu items priced at $3 or less and a $4 breakfast deal in the United States starting in April, the Wall Street Journal reported on Wednesday, as the burger chain looks to attract diners weary of economic hardship.
The company has been increasing its focus on affordability as consumers become more price-conscious. Competitors such as Burger King are also increasing their efforts to offer more economical menu options.
Last year, McDonald’s offered 15 percent off meal meals and launched $5 and $8 specials.
McDonald’s and other fast-food chains have raised menu prices in the wake of the pandemic to offset higher input costs.
The new products, known internally as “McValue 2.0,” include breakfast combos of McMuffins, hash browns and coffee, as well as lower-priced items like sausage biscuits or four-piece Chicken McNuggets, the Wall Street Journal reported, citing people familiar with the matter and company sources.
McDonald’s did not immediately respond to Reuters’ request for comment.
In February, McDonald’s fourth-quarter global comparable sales and profit beat Wall Street estimates as meal deals and strong marketing promotions lured U.S. diners on tight budgets.
McDonald’s has been investing heavily in marketing cheaper meals and said last month that its value push was helping attract lower-income customers.
Its shares fell 1.5% in early trading.
(Reporting by Sanskriti Shekhar in Bengaluru; Editing by Vijay Kishore)
