As inflation rises and impacts businesses nationwide, several restaurant chains are introducing value deals to attract budget-conscious customers.
Recently, Red Lobster announced the closure of more than 50 locations, coinciding with a report from the Bureau of Economic Analysis indicating a 2.2% inflation increase for the year ending in April.
Former CKE Restaurants CEO Andy Puzder commented on the challenges facing the restaurant industry, noting the necessity of raising prices to survive amidst escalating costs such as rising wages and commodity prices.
To stay competitive, various restaurants are offering meal deals:
– Pizza Hut has introduced the My Hut Box, offering a choice of personal pizza entrees with a side of fries or chicken wings and a 20-ounce soda for $6.99.
– Buffalo Wild Wings is providing all-you-can-eat wings for $19.99 on Mondays and Wednesdays at select locations.
– KFC launched the “Taste of KFC” menu with deals like a $5 meal (two pieces of chicken, mashed potatoes, and a biscuit) and a $10 bucket of eight chicken pieces on Tuesdays.
– McDonald’s is considering a $5 meal plan featuring a McChicken sandwich or McDouble with fries and a soda, with some locations cutting back on free beverage refills.
Additionally, Walmart has introduced a new brand, bettergoods, offering affordable food products priced between $2 and $15, with most items under $5. This initiative reflects a broader trend of food-related businesses seeking to provide cost-saving options in response to inflation.
