Taco Bell Value Box: What We Know

Taco Bell has entered the fast-food price wars, offering a value meal deal in an effort to drum up business and entice new customers.

Taco Bell Value Box: What’s Inside

CBS News has the complete list of things that were available in the just-announced Taco Bell $7 Luxe Cravings Box.

• Chalupa Supreme
• Beefy 5-Layer Burrito
• Double Stacked Taco,
• Chips and nacho cheese sauce
• Medium-size drink

The outlet also said that the fast-food staple restaurant would only make this promotion available for a limited time, though they did not make clear for how long it would be available.

“With the launch of the $7 Luxe Cravings Box, we’re giving consumers our most craveable items at an affordable price point and living up to our commitment on value to satisfy cravings with fan favorite full-sized menu items,” said Taylor Montgomery, Chief Marketing Officer of Taco Bell North America, in an official statement. “Our Cravings Value Menu is one of the leading value menus within the industry, offering 10 items at under $3, because we believe consumers shouldn’t have to choose between affordability and abundance.”

In an effort to win back financially stressed consumers, Burger King, McDonald’s, Wendy’s, and other restaurants have also resorted to promotions. Fast-food restaurants have reported in recent weeks that foot traffic has either slowed down or stopped growing at certain locations. The number of patrons visiting casual eating establishments like Applebee’s and IHOP is also declining.

Restaurant chains have raised the prices on their menus in recent years, citing increases in labor and food costs as the cause. 22 states in the US increased their minimum wages in January, despite the federal minimum wage being stagnant at $7.25 per hour.

Labor activists refute that claim, claiming that the massive fast-food chains like Taco Bell can easily afford the wage increases. The Roosevelt Institute examined California fast-food businesses and found that the industry reported profit margins in March.

The Latest Fast-Food Value Meal Entry

Taco Bell’s latest value offering is just the latest entry into the fast-food price wars, all of whom have experienced a dip in sales in recent months.

Earlier this week, McDonald’s announced the relaunch of its $5 meal deal for a limited time, which became available beginning Tuesday, June 25.

The offer comes with four pieces of chicken nuggets, fries, a drink, and a McChicken or McDouble. In light of rising food prices and financial pressures, this initiative aims to provide consumers with options at fair prices.

“Affordable prices and creating memorable moments are what McDonald’s is all about,” John Palmaccio, a McDonald’s owner-operator and Operator’s National Advertising Fund Chair, said in a statement to Food & Wine. “As small business owners, it’s our responsibility to deliver great value to our local communities when they need it most. The $5 Meal Deal is the perfect complement to the everyday local deals customers can find in-store and on the app, like the 25% off any purchase of $10 or more deal that I’m offering at my restaurants in Savannah, Georgia.”

McDonald’s posted mixed first-quarter results, with U.S. same-store sales slightly behind projections, while rising pricing pushing up average checks. The organization noticed that as a result of the increasing prices, customers are becoming more economical with their spending, highlighting the importance of affordability in attracting diners.

The limited-edition “Grandma McFlurry” was concurrently unveiled. This delicious dessert is a limited-edition confection made with a blend of vanilla ice cream, syrup, and crunchy candy pieces. Like the old chocolates that are often associated with grandmothers, this new treat is supposed to evoke happy memories.

As far as Taco Bell is concerned, its meal deal is poised to go directly up against the fast-food giant.