Reference points

How $3 Became the New $1

We used to care about the dollar deal. Now it’s tough to find. Fast food has always offered us value: Value History. As recently as the Great Recession, $1 was the fast food value meal price point. Offered in 2008 (and echoing what had existed since 2002), the McDonald’s “Dollar Menu” included the McChicken sandwich and McSkillet breakfast burrito. But after franchisees complained that they could not profit off a $1 double cheeseburger, it soon was replaced by the McPick 2 that had a rather short life from 2015 to 2016. At that point, the McPick 2 for $2 became a McPick 2 for $5. As you might expect, it too did not last for very long. ….[READ]