Taco Bell recently began testing its new 'Crave More Menu,' which features a selection of items that cost less than a dollar. While the idea of a value menu is nothing new, Taco Bell is taking the concept to the extreme by offering its food at extremely discounted prices.
The new Crave More Menu is a selection of new and existing Taco Bell items that each cost 99 cents or less before tax. The menu has three tiers, with some items costing as little as 79 cents and others hovering closer to one dollar. Some of these items are new additions to the Taco Bell menu, such as the Queso Bean Burrito, the Veggie Tostada and the Flamin' Hot Fritos Taco.
While the new menu is currently only in the testing phase in Omaha, Nebraska, it does demonstrate that the chain is willing to experiment with ultra-discounted menu options.
Why This Trend Is Growing
- Ultra-affordable Fast Food
- Opportunity for fast food chains to explore ultra-discounted menu options and attract value-conscious customers.
- Value Menus
- Potential for fast food chains to create and promote value menus featuring items priced below a dollar to increase customer affordability.
- Extreme Discounting
- Disruptive innovation opportunity for restaurants to test and implement extremely discounted menus to differentiate from competitors.
Industries Being Reshaped
- Fast Food
- Ultra-affordable fast food menus can provide a competitive edge in the fast food industry by targeting value-seeking consumers.
- Restaurant
- Restaurants can leverage value menus with items priced below a dollar to attract price-sensitive customers and increase foot traffic.
- Food Service
- In the food service industry, experimenting with extreme discounting on menus can disrupt the market and capture a larger customer base.
