Burger King, a subsidiary of Restaurant Brands International, will launch a $5 meal set ahead of McDonald’s. Bloomberg News reported. Thursday, citing an internal company memo, as the burger wars escalate.
Fast-food chains across the U.S. are struggling to attract customers as rising living costs lead to more people eating at home, leading them to turn to better promotions and special offers to attract more customers.
Burger King’s deal reportedly involves customers choosing one of three sandwich options, each with a nugget, fries and a drink.
Franchisees reportedly voted to approve the deal in early April.
Burger King plans to run the promotion for several months, the Journal reported, citing the memo, while McDonald’s will run its campaign for about four weeks, Bloomberg News previously reported.
In addition to its $5 “Your Way Meals,” the Burger King chain is reportedly testing two other value platforms that could be ready later this year.
McDonald’s confirmed last week that it would be offering a special $5 combo menu this summer to lure customers battered by inflation, which has driven customers away as fast-food chains have hiked prices.
Other burger chains are also stepping up promotions, with Wendy’s announcing a $3 breakfast combo earlier this week.
McDonald’s missed profit expectations for the first time in two years in the most recent quarter, with the company saying consumers were becoming more picky with their spending.
In contrast, rival Restaurant Brands Inc. beat Wall Street expectations for its quarterly results thanks to a recovery in demand at Burger King restaurants.
Restaurant Brands did not immediately respond to a Reuters request for comment.
