NEW YORK (TheBlaze/AP) -- McDonald's Corp. says a revamped version of its Dollar Menu that includes items priced at $5 could be launched nationally this year.
So you could be saying goodbye to the “Dollar Menu,” as it will cost more than that.
The massive fast food chain says it has been testing versions of its famous value menu that's called "Dollar Menu & More" in five markets across the country.
But don’t worry: company officials say no changes have yet been made to the current Dollar Menu, which was introduced more than a decade ago.
The change would come after McDonald's unsuccessful attempt last year to get customers to switch from the Dollar Menu to a pricier "Extra Value Menu," which features items costing closer to $2.
However, after sales went nowhere, the company decided to fall back (hard) on its Dollar Menu with an aggressive ad campaign.
If the new "Dollar Menu & More" is rolled out, the Extra Value Menu would be retired, said Neil Golden, chief marketing officer for McDonald's, which is based in Oak Brook, Ill.
"We didn't deliver on simplicity and clarity," Golden said of the Extra Value Menu. He said that the company realized the "Dollar Menu" was a strong brand that McDonald's could build on instead.
So far McDonald’s has received positive feedback on its “Dollar Menu & More” and the company is in the process of sharing the information with its more than 14,000 U.S. franchisees, he said. In order to be approved, at least 75 percent of the company's 180 marketing cooperatives across the country would need to vote for it.
The “Dollar Menu & More” that was tested has three price points -$1, $2 and $5 or "shareable" items such as 20-piece McNuggets. Another version that was tested has prices of $1, $1.79 and $4.99. The menu features more chicken items, as well as versions of its burgers that come with an extra beef patty or toppings such as bacon.
Golden wouldn’t provide specifics, but said the new menu would provide "a broader range of profitability" for restaurants. He said the overall percentage of sales generated by the revamped Dollar Menu in tests was "similar" to that of the Dollar Menu.
Also, in case you didn’t know, McDonald's has said in the past that its Dollar Menu accounts for approximately 14 percent of sales.
The proposed menu change comes as McDonald's and other fast-food chains have been touting their value menus amid increased competition and the weak economy.
Some analysts have raised concerns that the strategy could eat into profit margins. Wendy's addressed the issue earlier this year by revamping its 99-cent menu to a "Right Price Right Size" menu, with prices ranging up to around $2.
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Featured image AP.