Wendy's introduces new value menu with 3 price tiers
Wendy's revamped its value menu offering, joining rivals who have been boosting their affordable bundles and promotions to drive traffic among budget-conscious consumers.
The fast-food chain said its refreshed value menu, dubbed "Biggie Deals," introduces new customization options across three price points: $4, $6 and $8. Customers can choose from the $4 Biggie Bites, $6 Biggie Bag and $8 Biggie Bundle at participating locations nationwide.
Wendy’s has introduced similar value meal deals in the past, making this the latest iteration of its ongoing value strategy.
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"We know customers want choice and a meal option made just for them. That's why we're expanding Biggie Deals — to give more ways to customize and enjoy great value," Wendy's U.S. Chief Marketing Officer Lindsay Radkoski said in a statement.
The deals are seen as a way for the company to better compete in the highly competitive, promotion-driven market.
In September, McDonald's brought back its Extra Value Meals, offering customers eight meal bundles for breakfast, lunch and dinner, saving customers 15% more than if they bought items separately.
Mark Wasilefsky, head of restaurant and franchise finance at TD Bank, predicted that McDonald's strategy to double down on its value proposition to rejuvenate traffic among its cost-conscious customers would force its top rivals to follow suit with discounts of their own, especially during the mornings.
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"The restaurant industry is responding to what is effectively a period of some of the lowest measures of consumer sentiment in the last 50 years, and during these times, consumers want to feel like they're getting the best value for their money," Wasilefsky told FOX Business.
With McDonald's recent lean on value, "most scaled restaurants are working very hard with their existing menus and ingredients along with their back-office finance teams to derive wholesome, satisfying and substantive offerings at competitive prices to both retain existing clients and drive new customers," Wasilefsky said.
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For instance, shortly after McDonald's announced it was bringing back Extra Value Meals for the first time since 2019, IHOP announced it was introducing an everyday value menu as part of its core offerings.
Here are Wendy's new value meals: