Taco Bell enters the value meal wars with its biggest deal ever

This is the summer of fast food value meal wars, and Taco Bell is not sitting. The chain announced Thursday that it is joining the fray with one of its biggest deals ever.

The “Luxe Cravings Box” is a collection of four of their most popular foods, including a Chalupa Supreme taco, a meaty 5-layer burrito, a double-stack taco, fries with nacho cheese sauce, and a medium drink, all for $7 – a 55% discount compared to if all items were purchased separately.

The offer, which is on menus through September, shows that Taco Bell is not immune to the economic pressures chains face, which has led the company to discount its menu items to bring back customers who eat out less frequently and spending less when they do.

StarbucksBurger King and, new this week, McDonalds all have launched similar value-centric offerings to lure back cash-strapped consumers and accelerate spending ahead of their upcoming earnings release.

“We believe fast food should be a luxury everyone can afford every day,” said Taylor Montgomery, chief marketing officer at Taco Bell. He added that his deal offers “full-sized favorites” compared to some of his rivals’ deals that have smaller portions.

Montgomery told CNN that the “Luxe Craving Box” is the “most abundant” offering ever sold and offers “consumers more than we’ve ever given them before.” He declined to say whether the new offering is being sold at a loss.

In parent company Yum Brands’ top-earnings report, same-store sales at Taco Bell’s U.S. locations rose just 2%, a sharp decline from the 11% the chain grew compared to the same quarter a year ago. Just like its rivals, Yum has been vocal that some of its problems stem from customers spending less on fast food.

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