Miss the old McDonald's Dollar Menu? Turns out, you're not alone.
Since doing away with the Dollar Menu in 2014, the fast-food giant has consistently struggled with attracting customers who prioritize value -- particularly people on a budget. Previously, McDonald's experimented with a number of discount deals -- such as the McPick 2, for instance -- to bring back customers looking for value, but none of these approaches paid off in a big way for the venerable company.
So, why not bring back the Dollar Menu, updated to appeal to a new generation of consumers?
The Dollar Menu's replacement is meant to hit stores in early 2018, featuring items sold at three different dollar-based price points: $1, $2, and $3. And, according to Bloomberg, almost 100 percent of franchises are already on board to participate in this new value menu. Which is a good thing, since McDonald's needs their active support for this new plan to succeed.
Considering that chains like Burger King and Wendy's -- McDonald's biggest competitors -- have offered heavily discounted menu items over the last few years, it seems fitting that the home of the Golden Arches is resurrecting a value option in its own offerings.
Ongoing experiments with the company's food and drink offerings -- including all-day breakfast, Signature Crafted gourmet burgers, and delivery via UberEats at now more than 3,700 McDonald's restaurants -- have led to a surge of customer interest. "We serve more customers more often," CEO Steve Easterbrook said. "Our U.S. business has regained its stride."
This year, in fact, the group reported a net income of $1.88 billion -- an increase of 48 percent compared with the $1.28 billion of income in the same quarter last year. It appears likely that the company's choice to resurrect its Dollar Menu will draw even more customers -- clearly demonstrating that McDonald's is actually approaching the shift from a position of power.
Overall, the return of the Dollar Menu looks like a win on both sides. Customers are able to purchase value meals for less, in a fond return of the old McDonald's they loved, and the company will thrive from the increased business.
Bringing back a new-and-improved value menu, so far at least, seems to be a fantastic step in the right direction in terms of understanding customers and what they seek. And, as now-established champions of attracting others to its brand, McDonald's looks like it's just doing what it does best -- giving people what they love, in the most accessible way.