Wendy’s launched a $7.99 Dave’s Single meal deal, including a quarter-pound burger, small fries and a drink, for a limited time on Monday.
The chain has been working to improve its value proposition, as same-store sales have fallen in six of the last eight quarters.
“We are not performing at our potential. Traffic is down. Our value proposition has slipped and franchisee economics are under pressure,” Robert Wright, who joined the chain as CEO in May, said on Wendy’s Q2 earnings call in August.
At the time, Wright said previous value offers, like the Biggie Bags, had become “increasingly complex and value diluting, making it less compelling and less effective as a reason to visit Wendy's.”
Steve Cirulis, the chain’s CFO, said on that same earnings call that it was focused on rebuilding its value proposition as part of its Project Fresh turnaround program, which first launched late last year.
Wright said the brand’s value strategy was focused on the menu board as a whole, rather than a specific value-menu subsection.
The Dave’s Single meal deal fits into that strategy by offering a combo meal, rather than snacks or a grab bag of options.
Other QSRs looking to shift the needle on value have also targeted combo pricing. McDonald’s, for instance, reintroduced the Extra Value Meals last year, reducing prices on a number of core combos by as much as 15%.
If the Dave’s Single meal proves successful as a value offer, the brand may try to trim prices on other core combos as temporary traffic drivers, while its operational changes and emphasis on consistency rebuild consumer experience.
