Restaurant Brands International-owned Burger King is poised to introduce a new $5 meal deal featuring a choice of one of three sandwiches, nuggets, fries and a drink, in the US, Bloomberg has reported.

Burger King franchisees voted in early April 2024 to approve the $5 Your Way Meal, which could be launched ahead of rival chain McDonald's similar offer.

Burger King plans to run its $5 offer for several months.

McDonald's announced its $5 meal in May 2024. The offer begins on 25 June and will last for a month. Its meal pack plan will include a McChicken or McDouble, four-piece chicken nuggets, fries and a drink.

Other restaurant chains such as Wendy's and Chili's are also enhancing their value propositions, with Wendy's offering a $3 breakfast sandwich and Chili's a burger combo starting at $10.99.

All these offerings highlight the industry's efforts to attract budget-conscious consumers.  

According to a survey conducted by financial firm LendingTree, 78% of Americans now consider fast food a luxury due to rising costs.

As the price difference between quick-service and fast-casual restaurants narrows, some customers are choosing to spend slightly more at places such Chipotle over traditional burger chains.

Restaurant Brands International CEO has acknowledged that customers are now increasingly sensitive to price, and McDonald's CEO has emphasised the need to be "laser-focused on affordability." 

Burger King is testing two further value offerings that could be ready in the latter half of 2024.