New York (CNN) — Subway is resurrecting its discounted footlong promotion, as stubbornly high inflation has led to a sluggish start to the year across the fast-food industry.
Restaurant chains have scrambled over the past year to attract customers who are fed up with high prices. Although some have succeeded with limited-time promotions, others like McDonald’s, Chili’s and Taco Bell have found more success with offering value meals. Americans continue to be willing to spend – if they feel like they’re getting good bang for their buck.
Beginning Friday for a limited time, Subway will sell any footlong sandwich for $6.99 — a steep discount considering that some footlongs can cost as much as $14 in some cities. However, the offer is only available via its app or website with the code “699FL.”
Subway is owned by a private equity firm and doesn’t often reveal sales like its publicly traded rivals. However, the chain’s CEO says it has been affected by inflation, just like the rest of the industry.
“People continue to watch their spending but don’t want to sacrifice quality, quantity and taste for value when dining on the go,” said Doug Fry, president of Subway North America, in a press release. “With the return of the $6.99 ‘Any Footlong’ offer, Subway is delivering on all three, with freshly made, great-tasting sandwiches at an exceptional value.”
Fry’s message echoes that of its fellow competitors during their recenty earnings calls. McDonald’s said “industry certainly has had a sluggish start” partly due low-income consumers, while Wendy’s also said it’s “facing some overall industry traffic headwinds.”
Subway also has been diversifying its menu as the prices of its sandwiches rise. The chain has added $3 Dippers and Sidekick snacks priced between $2 and $5, to target cash-conscious customers who are perhaps turned off by the higher prices of its other items. The Sidekick menu expanded last month to include a footlong Oreo cookie.
The chain has been experimenting promotions to varying degrees of success. A $6.99 meal for a 6-inch sub with a drink and cookies or chips, will ended earlier than planned last year after reportedly lackluster performance. In its place, a similar-priced “meal of the day” was added in January, which remains on Subway’s menu.
In recent years, Subway has added customization to its menu, doubled down on pushing orders to its app, increased its international presence and introduced freshly sliced meats — a major shift from Subway’s previous method of delivering cold cuts pre-sliced.
The-CNN-Wire
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