William Simpson
Wendy’s is the latest chain to offer discounts to customers, as even fast food — once a reliable and inexpensive way to eat — has become too expensive for many Americans.
On Monday, Wendy’s announced a new combination of potatoes and an egg breakfast sandwich for $3, as other burger chains and food retailers try to woo Americans desire to save money buying valuable goods.
The agreement comes in the wake of McDonald’s announces $5 menu to try to repay customers discouraged by previous price increases on the chain’s menu.
Industry-wide price increases have diminished low-income Americans’ appetite for fast food, surveys show. One January survey Consulting firm Revenue Management Solutions found that about 25% of people earning less than $50,000 were cutting back on fast food, citing its rising cost.
Companies also took note. “Consumers continue to be even more demanding with every dollar they spend as they face high prices on their everyday spending, which is putting pressure on the industry,” said McDonald’s CEO Chris Kempczinski on the first quarter earnings call. company’s quarter. “[I]It is imperative that we continue to keep accessibility at the forefront for our customers.”
Here is a list of restaurant chains and food retailers that have recently reduced prices in response to decreased consumer demand amid rising food prices.
Wendy’s
The fast-food chain announced on Monday a new promotion aimed at cash-strapped consumers looking for a better return on their investment. Starting May 21, Wendy’s customers can get a $3 breakfast combo that includes an egg and cheese English muffin sandwich with bacon or sausage and a small side of seasoned potatoes. Breakfast hours begin between 6:30 a.m. and 8 a.m. local time, depending on restaurant location and delivery times, according to Wendy’s website. Breakfast hours end at 10:30 am at the latest.
McDonalds
McDonald’s announced last week that it is launching a temporary $5 meal promotion. The limited-time offer begins June 25 and will last for about a month, according to the fast-food chain. The deal will include a choice of McChicken sandwich, McDouble burger or four-piece chicken nuggets, plus small fries and a small drink.
Target
Retailer Target this week said is reducing prices across 5,000 different items as consumers feel pressure to maximize their budgets. Discounted products include fruit, milk, meat, peanut butter, pet food, paper towels and more.
Giant Food
The supermarket chain is also responding to consumers’ price sensitivity. In April, the grocer said it was lowering prices on its private-label food products, including bread, milk, bottled water, bacon, frozen vegetables and more.
