The competition between fast food companies and the dwindling customer dollar is intensifying, with another player entering the value meal arena.
Following the lead of McDonald’s, Wendy’s, and other competitors, Taco Bell is rolling out its own combo deal to attract consumers tired of inflation back to its eateries.
The “Luxe Cravings Box” from Taco Bell includes several popular menu items for a total price of $7, such as a Chalupa Supreme, Beefy 5-Layer Burrito, Double Stacked Taco, chips and nacho cheese sauce, and a medium-sized drink. According to Taco Bell, this adds up to a 55% discount compared to regular menu prices for these items.
Taco Bell
However, the California-based company has stated that this box will only be available for a limited time. Although an exact end date wasn’t provided, Taco Bell’s previous $5 Taco Discovery Box, available only on Tuesdays, was removed from the menu on June 4. The Cravings Value Menu, offering 10 items for $3 or less, will remain.
“With the introduction of the $7 Luxe Cravings Box, we are providing consumers with our most desired items at an affordable price and fulfilling our commitment to value by satisfying cravings with full-sized fan-favorite menu items,” said Taylor Montgomery, Taco Bell North America’s chief marketing officer. “Our Cravings Value Menu stands out as one of the top value menus in the industry, featuring 10 items priced under $3, because we believe consumers shouldn’t have to compromise between affordability and variety.”
Related: McDonald’s reveals what will be included in $5 value meals
Taco Bell’s move comes shortly after McDonald’s launched its $5 value meal for a limited time, which includes a four-piece chicken nugget, small fries, small soft drink, and a choice of McDouble or McChicken sandwich.
Additionally, Wendy’s recently unveiled a comparable $5 Biggie Bag containing a sandwich, small fries, four-piece chicken nuggets, and a small drink. Wendy’s sandwich options include a junior bacon cheeseburger, crispy chicken BLT, or double stack.
This new trend of value meals is emerging as foot traffic in the fast food sector has slowed due to increasing menu costs and shrinking discretionary budgets.
A recent report from consulting firm Revenue Management Solutions revealed that consumers are dining out less frequently, with nearly 40% of respondents stating they are reducing their restaurant spending.
Related: No, Wendy’s isn’t trying surge pricing. Here’s what it’s changing
