As customers pull back from fast-food dining due to escalating prices, a number of chains are offering deals to entice those customers back. Now Wendy’s has joined the trend, but it’s taking the price wars to a different meal.
Wendy’s has announced a new breakfast combo, which will give customers potatoes and their choice of either a Bacon, Egg & Cheese English Muffin or a Sausage, Egg & Cheese English Muffin for $3. Other discounts have largely been focused on the lunch and dinner crowds.
The Wendy’s special is already in effect—and while McDonald’s has been very clear that its price reductions are temporary, Wendy’s did not put an expiration date on its deal. (The company is also offering free fries every Friday through the summer.)
McDonald’s, earlier this month, announced that starting June 25, the company will offer four items, a McChicken or McDouble burger, a four-piece chicken nuggets, fries, and a drink—for just five bucks. But that offer will only last for a month.
Franchisees of that chain soon weighed in, saying the company needed to make more contributions if cheap offerings were going to continue.
“In order to provide the consumer with more affordable options, they must be affordable for the owner/operators,” the group wrote. “McDonald’s vast resources and financial investment are essential to any sustainable affordable strategy.”
Other retailers are slashing prices as well to win back lapsed customers. Target, on Monday, announced plans to reduce prices on nearly 5,000 items, ranging from groceries to diapers to pet food. Aldo has announced price cuts on over 250 items, and Ikea has lowered prices on some of its offerings as well.
Revenues at Wendy’s haven’t been declining, but the rate of acceleration has slowed considerably. Earlier this month, the company reported that first-quarter revenue grew just 1.1% to $534.8 million. Same-restaurant sales worldwide were up a mere 0.9% for the quarter.