Subway’s foot-long sandwiches are getting a new price.
Starting Aug. 26, all footlongs will cost $6.99, down from as much as $14 in some markets, the grocery chain said Friday. It marks Subway’s foray into the value menu wars that fast food restaurants are trying to wage win back customers who say food prices are too high.
The offer, available only for purchases made through Subway’s app or website with the code “699FL,” will end on September 8. Subway has 22 different sandwich varieties, and customers can also create their own custom subs.
The move follows special summer menu launches from other fast-food chains that have struggled in recent months to boost sales and draw inflation-weary consumers to their stores and restaurants. In announcing the new foot-long price, Subway acknowledged Americans’ struggles with the rising cost of living, as well as their heightened sensitivity to food prices.
“Today’s diner is more stretched than ever, and too often it involves a trade-off of quality, variety or taste to find a value meal,” Subway North America president Doug Fry said in a statement.
Some consumers are increasingly choosing to eat at home as restaurant prices have risen since the pandemic. The cost of eating out has risen by 28% since January 2020 – outpacing overall inflation of 21% over the same period, according to government data.
That’s prompting some chains to lower their prices in an effort to lure diners back through their doors, like McDonald’s offer in June for a limited time $5 value meal. The fast-food giant’s global sales fell in the second quarter, marking the fast-food giant’s first decline since 2020. Management attributed the slowing foot traffic to low-income consumers cutting back on spending on food outside the home.
Other retailers, including Target, have also cut prices on items to lure cash-strapped shoppers back to the grocery aisles. In Target’s case, the move paid off: Its comparable sales rose for the first time in a year in the second quarter.