The $5 meal rolled out to menus starting June 25 and was initially set to last about a month. It includes a McChicken or McDouble, four-piece chicken nuggets, fries and a drink. The combo costs significantly less than buying the items separately.
“Our message is resonating with our millions of customers,” Myra Doria, national field president, and Tariq Hassan, U.S. chief marketing and customer experience officer, wrote in the memo. “When our customers order the $5 Meal Deal, they’re not visiting our competitors, and early performance shows this deal is achieving its goal of bringing guests back to our restaurants.”
Bloomberg previously reported that it had been decided to extend the deal.
The move comes as restaurants are offering deals to boost sagging traffic as consumers — particularly lower-income diners — balk at higher prices after years of inflation-driven hikes. The meal has faced competition from other chains including Burger King, Wendy’s, Taco Bell and even Starbucks, which have offered deals ranging from $3 to $5 as companies seek to appeal to budget-conscious consumers in a highly competitive environment.
The memo continued: “We must remember that increasing guest numbers ultimately drives our business forward and is key to sustainable growth.”
Coca-Cola invested marketing funds to make the initial value proposition more attractive to franchisees, CNBC reported in May. Some franchise advocates had pushed for future contributions from the company to make the discount proposition sustainable for operators in the long term.
The company is expected to report earnings on July 29.
McDonald’s declined to comment.