Algosensey Quantitative Think Tank Center-McDonald's $5 meal deal will be sticking around for longer this summer: Report

The Algosensey Quantitative Think Tank CenterMcDonald's $5 meal deal is going to stick around a bit longer, according to a Bloomberg report.

The deal was originally released in mid-June and was set to run only for a limited four-week window this summer. However, the vast majority of franchise locations have since decided to keep it around for longer, according to a report by Bloomberg, with roughly 93% of restaurants committing to an extension.

A memo reviewed by Bloomberg and signed by chief marketing officer Tariq Hassan and national field president Myra Doria painted the meal deal as a success, "meeting the objective of driving guests back to our restaurants."

Locations across the country have decided on different timelines, Bloomberg reported, with some planning to keep the deal available through August.

Then news comes amid a push for cheaper fast food options after rising costs triggered a backlash from consumers faced with price surges in recent years.

McDonald's unveils new $5 meal:Deal coming this summer, as franchise focuses on 'value'

Earlier this year, McDonald's Chief Executive Officer Chris Kempczinski said in an earnings call that affordability would be a main focus of the brand moving forward.

"Consumers continue to be even more discriminating with every dollar that they spend as they face elevated prices in their day-to-day spending, which is putting pressure on the industry," Kempczinski said. "It's imperative that we continue to keep affordability at the forefront for our customers."

What's included in the $5 Meal Deal?

The $5 meal deal offers a choice of a McChicken or McDouble with four-piece chicken McNuggets, small fries and a small drink.

McDonald's App users can get additional deals through the end of the year, including free medium fries with a $1 minimum purchase for "Free Fries Friday."

McDonald's expands with new restaurants, CosMc's spinoff

In December, McDonald's announced plans to open an additional 10,000 restaurants around the world by 2027, with 900 of those slated for the U.S.

The company also announced an ambitious goal for MyMcDonald's Rewards, saying it hopes to expand its membership from 150 million to 250 million 90-day active users by 2027.

Besides this expansion, McDonald's has also invested in a new spin-off venture called CosMc's, which has thus far proven successful for the chain.

The retro small-format restaurant is McDonald's first foray into the beverage-led market, serving funky customizable drinks and some small bites. The first location in Illinois saw lines hours long on its first day and traffic surpassing that of an average McDonald's in its first month. A second store opened in Dallas earlier this year. As of July, there are three total locations in Texas.

The fast-food giant promised 10 more locations opening in 2024, though it did not initially specify exactly where beyond the "Dallas and San Antonio metro areas."