STRUGGLING WITH THE COST OF
LIVING.
ERIN McLACHLAN HAS MORE.
♪ HAVE IT YOUR WAY ♪
>> Reporter: THIS SUMMER, BURGER
KING WILL LET YOU HAVE IT FOR
LESS.
ANNOUNCING ITS NEW $5 VALUE
MEAL.
SO WHAT’S ON THE MENU?
IT WILL INCLUDE ONE OF THREE
SANDWICHES, NUGGETS, FRIES, AND
A DRINK.
THE OFFER ROLLING OUT AFTER NEWS
McDONALD’S HAS PLANS FOR ITS OWN
$5 LIMITED TIME DEAL.
>> I MEAN, THIS IS ABSOLUTELY
EXPECTED FROM BURGER KING.
IT’S KIND OF AGGRESSIVE BECAUSE
THEY’RE GOING TO START IT
EARLIER AND KEEP IT LONGER.
>> Reporter: IT’S PART OF THE
ONGOING FAST FOOD FIGHT FOR YOUR
DOLLARS.
>> WHY IS IT SO EXPENSIVE?
RIPE AFTER INDUSTRY-WIDE PRICES
JUMPED NEARLY 28% FROM 2019 TO
2023 OUTPACING OVERALL
INFLATION.
>> IT’S GETTING OUT OF HAND.
>> Reporter: THE DEALS A DRASTIC
EFFORT TO GET DINERS THROUGH THE
DOOR.
SO HOW LOW WILL THE BURGER WARS
GO?
AT PARTICIPATING WENDY’S,
STARTING ON TUESDAY AND LASTING
FOR SIX DAYS YOU’LL BE ABLE TO
BUY A BURGER FOR JUST A PENNY
WITH ANY PURCHASE.
ALL YOU HAVE TO DO IS REGISTER
ON THE APP OR WEBSITE.
ANALYSTS ARE POINTING TO
INCREASED PACKAGING AND LABOR
COSTS FOR THE PRICE HIKES, BUT
THE STICKER SHOCK IS CAUSING
MANY CUSTOMERS TO PULL BACK.
>> WE’VE SEEN TRAFFIC PRETTY
BROADLY AT FAST FOOD RESTAURANTS
IN PARTICULAR REALLY COMING DOWN
THIS YEAR.
THEY NEED TO DEVOTE SOME OF
THEIR
MARKETING ATTENTION TO VALUE TO
TELL THE CUSTOMER WE HEAR YOU,
WE ARE DOING SOMETHING ABOUT IT.
HERE’S A $5 MEAL DEAL.
>> Reporter: IT’S NOT JUST FAST
FOOD FRANCHISES SCRAMBLING TO
ADDRESS THE PAIN THAT YEARS OF
INFLATION HAVE INFLICTED ON
CUSTOMERS’ POCKETBOOKS.
THIS WEEK TARGET ANNOUNCED IT’S
SLASHING PRICES IN ABOUT 5,000
FOOD, BEVERAGE, AND OTHER
ESSENTIAL ITEMS, WHILE WALMART
INTRODUCED A NEW PREMIUM GROCERY
BRAND WITH MOST ITEMS UNDER --
YOU GUESSED IT -- $5.
THE PRICE POINT PENNY PINCHERS
HOPE WILL LEAD TO A LONG-AWAITED