McDonald's Announces Price Cuts on Combo Meals

McDonald's is slashing prices on its combo meals just weeks after its CEO acknowledged that menu items had become too expensive. The move aims to address customer concerns about affordability, with the company offering financial support to franchisees who agree to lower prices.

Consumers' value perceptions are most influenced by our core menu pricing.

This comes as McDonald's expands its combo offerings with a $5 breakfast deal and an $8 Big Mac and McNugget special, set to roll out in the coming months. The reintroduction of the "Extra Value Meals" branding is also part of this effort.

McDonald's CEO Chris Kempczinski previously admitted that customers perceive the chain as unaffordable, with many combination meals costing more than $10. This has shaped customer value perceptions negatively, he said.

The single biggest driver of what shapes a consumer's overall perception of McDonald's value is the menu board... And it's when they drive up to the restaurant and they see the menu board, that's what's shaping that's the number one driver.

Kempczinski emphasized the importance of fixing this issue: "We've got to get that fixed."

The price cuts are a response to customer concerns, which were sparked in part by a viral $18 Big Mac combo meal in 2023. McDonald's has since focused on expanding its value menu and improving other parts of its offerings.