As customers pull away from eating fast food due to rising prices, a number of chains are offering offers to lure those customers back. Now Wendy's has joined the trend, but it's taking the price wars to a different meal.
Wendy Announce A new breakfast combo will give customers potatoes and their choice of either a bacon, egg and cheese English muffin or a sausage, egg and cheese English muffin for $3. Other discounts have focused largely on the lunch and dinner crowds.
Wendy's special offer has already gone into effect — and while McDonald's has been very clear that its price cuts are temporary, Wendy's has not put an end date on its deal. (The company also offers free French fries every Friday during the summer.)
McDonald's announced earlier this month that starting June 25, the company will offer four items — a McChicken or McDouble burger, a four-piece chicken nugget, fries and a drink — for just five dollars. But this offer will only last for one month.
Franchisees of that chain quickly commented that the company needed to contribute more if the cheap offers were to continue.
“In order to provide the consumer with more affordable options, it must be accessible to owner/operators.” The group wrote. “McDonald's vast resources and financial investments are essential to any sustainable and affordable strategy.”
Other retailers are also cutting prices to win back lost customers. Target on Monday announced plans to cut prices on nearly 5,000 items, ranging from groceries to diapers and pet food. Aldo has announced price cuts on more than 250 products, and Ikea has reduced prices on some of its offers as well.
Revenues at Wendy's have not declined, but the rate of acceleration has slowed significantly. Earlier this month, the company reported first-quarter revenue growth of just 1.1% to $534.8 million. Worldwide same-restaurant sales rose just 0.9% during the quarter.