McDonald’s is crediting the revival of its value menu for similarly reviving its profits. The Chicago-based quick-service restaurant chain introduced its revamped value menu in January with items priced at $1, $2 and $3.
During the first quarter of this year, the chain's U.S. sales at restaurants open at least a year rose 2.9% compared with a year earlier. And for McDonald's restaurants worldwide, company-owned or franchised, sales at locations open at least a year increased 5.5%, according to a USA Today report.
"More customers are recognizing that we are becoming a better McDonald's, appreciating our great-tasting food, fast and friendly service and compelling value," CEO Steve Easterbrook said in a statement.
It seems value is going a long way with consumers these days. In a survey of 1,500 consumers, Chicago-based Technomic asked how often they order meals from dollar menus. Forty-two percent indicated they go in for value meals once a week, 15% once every two or three weeks, 12% once a month, 20% less often than once a month and 10% said never, according to Technomic’s 2017 Value & Pricing survey delving into order frequencylue menus. And a recent study by Port Washington, N.Y.-based The NPD Group found that value-menu traffic for total QSRs increased 10% and consumer spending ramped up 13% during the first quarter 2018.
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