In a fierce summer battle of fast food value meals, Taco Bell has made a bold move by introducing its “Luxe Cravings Box.” This special deal includes four of the chain’s most popular items – a Chalupa Supreme taco, a beefy 5-layer burrito, a double-stacked taco, chips with nacho cheese sauce, and a medium drink – all for just $7. This represents a 55% discount compared to purchasing each item separately.
Available on menus until September, this offering reflects Taco Bell’s response to economic challenges facing the industry. With customers dining out less frequently and spending less when they do, the chain is hoping to attract back customers with this value meal.
Following in the footsteps of Starbucks, Burger King, and McDonald’s, Taco Bell’s move is part of a trend in the industry to offer budget-friendly deals to entice cash-strapped consumers. These companies are looking to boost spending as they approach their upcoming earnings releases.
Taylor Montgomery, Taco Bell’s chief marketing officer, emphasized the company’s commitment to making fast food an affordable luxury for everyone. He highlighted that the “Luxe Cravings Box” provides full-sized portions, unlike some competitors’ offerings with smaller sizes.
Montgomery described the new deal as the “most abundant” offer Taco Bell has ever sold, providing consumers with more value than ever before. However, he did not disclose whether the company is selling the product at a loss.
In Yum Brands’ recent earnings report, Taco Bell saw a modest 2% increase in same-store sales at its US locations, a significant drop from the 11% growth reported in the previous year. Like other chains, Yum Brands has acknowledged that customer spending habits are impacting their performance in the fast food market.
