(Reuters) – Burger chain McDonald’s will extend its $5 meal deal at most U.S. locations through August after about 93% of restaurants voted in favor of the plan, a memo seen by Reuters showed.
McDonald’s launched the meal deal on June 25 for an initial four-week period, in a bid to compete with similar campaigns by major fast-food chains to attract budget-conscious customers.
According to the memo, some McDonald’s restaurants have already voted to extend the offer through August, while others have yet to vote. That could mean the offer periods will vary by region, the memo said.
The $5 meal has helped restore McDonald’s restaurant customers, the memo said, as higher fast-food prices have caused budget-conscious customers to dine out less often and switch to cheaper, home-cooked meals.
The company reported a first-quarter profit decline in April, noting that consumers across all income groups were looking for value.
Competitor Burger King, owned by Restaurant Brands International, had a $5 “Your Way” deal last month, while Wendy’s announced a $3 breakfast deal in May.
Bloomberg was first to report Monday that McDonald’s is extending its $5 meal deal.
(Reporting by Savyata Mishra in Bengaluru; Editing by Krishna Chandra Eluri and Shinjini Ganguli)