Value meal face-off: Major chain drops deal starting at $4
Competition for customer retention among fast food restaurants is heating up as popular chains add new value menus and drop prices to keep cost-focused consumers happy.
Quick service restaurants are pulling out all the stops to win over Americans and their wallets with the cost of dining 4.1% more expensive than a year ago this past December, according to a Bureau of Labor Statistics' Consumer Price Index report.
On Wednesday, Wendy's introduced a new Biggie Deals menu that offers a new way for customers to customize meal pairings, starting at just $4.
The $4 Biggie Bites lets people pick two items from a Crispy Chicken Sandwich, Jr. Cheeseburger, Jr. Bacon Cheeseburger, 4-piece Nuggets, or Jr. Fry, and either a second 4-piece Nuggets, Jr. Fry, or small soft drink.
For $2 more, customers can choose between the Crispy Chicken Sandwich, Jr. Cheeseburger, Jr. Bacon Cheeseburger, or Double Stack, pairing it with a 4-piece Nuggets, Jr. Fry and a small soft drink.
The top tier $8 Biggie Bundle includes any two sandwiches -- customers can choose from the Crispy Chicken Sandwich, Jr. Cheeseburger, Jr. Bacon Cheeseburger, or Double Stack -- plus a Jr. Fry and small drink.
Earlier this week, Taco Bell announced its new Luxe Value Menu with 10 items priced at $3 or less, available starting Jan. 22, which global chief brand officer Taylor Montgomery called the restaurant chain's most innovative launch to date.
"Value in the restaurant industry should be a luxury that every single consumer should be able to afford, every single day," he told ABC News.
McDonald's has also thrown its hat in the ring with Extra Value Meals.
The cost-effective limited-time combinations include a $5 Sausage McMuffin with Egg Meal and a 2 Snack Wraps Meal for $8.
Experts say fast food companies are simply reacting to unhappy customers who felt they were no longer seeing value as prices jumped over the last few years.
"We're seeing them respond to a consumer that has continued to be under pressure," Sara Senatore, a restaurant analyst for Bank of America, told ABC News. "January has historically been a period of intense value push just because of where consumers are and thinking about their budgets."
She said the ongoing competition between brands also helps drive down prices.
"When the industry leader does something, typically you do see other restaurants have to pivot in the same direction," Senatore said.
More ways to save at fast food restaurants
One way to score more deals is to download restaurant apps, which sometimes give users a one-time perk or other in-app exclusives.
Customers can also join rewards programs that offer deals and put purchases towards free menu items and other loyalty incentives.
Finally, customers looking to save can also give their favorite spots a follow on social media, as many places now promote additional savings in new social campaigns and giveaways.
