McDonald’s is set to include a $5 value meal on its menu, but if you want one, you’ll have to move quickly.
The promotion will include four items for $5 — a McChicken or McDouble, four-piece chicken nuggets, fries and a drink — but it will only run for about a month, beginning on June 25, a person familiar with the offering who was not authorized to speak about it publicly, told CNBC.
“We know how much it means to our customers when McDonald’s offers meaningful value and communicates it through national advertising. That’s been true since our very beginning and never more important than it is today,” McDonald’s said in a statement to CNBC.
Coca-Cola added marketing funds to the equation to make the deal more appealing, CNBC reported Friday. In a statement on Wednesday, Coca-Cola said: “We routinely partner with our customers on marketing programs to meet consumer needs. This helps us grow our businesses together.”
According to a person who spoke with Bloomberg on the condition of anonymity, the company tried to implement the $5 meal deal but was rebuffed by McDonald’s franchisees, who pay into an advertising fund to be allowed to offer opinions on major marketing campaigns.
Franchisees run about 95% of U.S. McDonald’s restaurants, and earlier this year they decided not to support the $5 menu option, the person told Bloomberg.
Some franchise operators were concerned about losing money on the roughly four-week promotion, according to the story.
McDonald’s CEO Chris Kempczinski said on an April 30 earnings call with analysts and investors that the company has to be “laser-focused” on keeping prices affordable to win customers back, according to CBS News.
“Consumers continue to be even more discriminating with every dollar that they spend as they face elevated prices in their day-to-day spending, which is putting pressure on the industry,” Kempczinski added. “It’s imperative that we continue to keep affordability at the forefront for our customers.”
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