McDonald’s to expand U.S. value menu in 2024 to attract budget-conscious customers

McDonald’s is set to expand its U.S. value menu starting January 7, 2024, in a bid to appeal to cost-conscious customers amid shifting consumer dining habits.

The burger giant’s new initiative will allow customers to purchase one full-priced item from a designated value menu and get another item from the same menu for just $1. The menu includes popular items such as the Sausage McMuffin, hash browns, McChicken sandwich, and small fries.

In addition to the new offer, McDonald’s has announced the extension of its $5 Meal Deal through next summer. The deal, introduced in June 2023 and initially set to end this year, has proven to be a key strategy in retaining customers amid rising competition.

The Chicago-based fast-food chain will also continue to provide localized specials and in-app deals, including promotions like free drinks, to further entice diners.

McDonald’s expansion comes as inflation impacts dining choices. According to U.S. government data, October saw food prices for eating out rise by 3.8% compared to the previous year, while grocery prices increased by only 1.1%. This shift has led more consumers to opt for home-cooked meals, challenging fast-food chains to find new ways to attract customers.

The $5 Meal Deal has already demonstrated its effectiveness, with competitors such as Burger King introducing similar promotions. During the July-September period, McDonald’s U.S. same-store sales — a measure of sales at locations open for at least a year saw a modest increase of 0.3% compared to the same period in 2022.

As McDonald’s prepares to roll out its expanded value menu, the fast-food industry remains highly competitive, with rival chains vying to capture the attention of bargain-seeking diners. The company hopes its latest offers will solidify its position as a go-to option for customers looking for affordability without compromising on quality or convenience.

Stay tuned for updates on how McDonald’s strategies shape the fast-food market in the coming year.