Wendy's is following McDonald's lead in offering a lower-priced combo to lure back inflation-weary consumers, as fast-food chains see sales slip due to more people eating at home to save money.
On Tuesday, Wendy's rolled out a $3 breakfast combo that includes a small order of seasoned potatoes with the choice of either a Bacon, Egg & Cheese English Muffin or a Sausage, Egg & Cheese English Muffin at participating locations.
Wendy's English muffin sandwich and seasoned potatoes. (Wendy's / Fox News)
The offer is available at participating locations for a limited time. Wendy's did not immediately respond to a FOX Business inquiry about how long the deal will last.
Wendy's stock was down slightly by 1.16% on Tuesday following the news, to a share price of $17.88. The stock is down 21% from a year ago.
Wendy's on Tuesday introduced a $3 breakfast deal for a limited time, becoming the latest fast-food chain to offer a budget-friendly option as high inflation weighs on consumers. (Kena Betancur/VIEWpress / Getty Images)
Earlier this month, Bloomberg first reported that McDonald's will be offering a $5 meal deal in June that will be available for roughly a month. The budget-friendly combo will include the choice of a McDouble or a McChicken, along with four chicken nuggets, fries and a drink, a source told CNBC.
The discount combos come as global restaurant chains such as McDonald's and Starbucks have seen lower-income customers opting to eat more meals at home amid a cost-of-living crisis, forcing the companies to offer steeper promotions to attract them to their outlets.
A McDonald's on Oct. 30, 2023, in Austin, Texas. (Brandon Bell / Getty Images)
McDonald's, which has a higher exposure to the lower-income cohort, saw its global sales growth slowing for the fourth straight quarter.
McDonald's stock is down 8% over the past year, with its share price hovering around $266 Tuesday afternoon.