A few years ago, McDonald's killed their Dollar Menu concept that drew many thrifty customers to the Golden Arches in the first place. While other value menu experiments, including the 'Dollar Menu and More' and the 'McPick Two', have been conducted, no true Dollar Menu successor has been drawn up... until now.
During McDonald's third-quarter earnings conference call, McDonald's USA president Chris Kempczinski announced the new menu as an effort to climb back into the budget-conscious competition. While no specific foods were mentioned, Kempczinski did note that items would be offered at prices of either $1, $2, or $3. McDonald's will "pulse" deals in and out of that value menu throughout the year, so you can expect to find different offerings on the new bargain menu depending on when you visit.
This news comes on the heels of two consecutive quarters of restaurant traffic growth for McDonald's. A Bloomberg intelligence analyst reports that the fast food giant is likely trying to use its Dollar Menu successor to "lock in those gains." As competitors like Wendy's and Burger King have heavily promoted discount menus as of late, McDonald's will face some stiff competition as it re-enters the bargain market.
Still, based on its size, distribution capability, and fame for its Dollar Menu of the past, this new value menu should bring in both new and old customers alike that are hoping to save a few bucks.