Starting August 26, Subway is offering its famous footlong sandwiches at a significantly reduced price of $6.99, marking a notable drop from the previous high of up to $14 in certain markets. This price cut is part of Subway’s strategy to compete in the ongoing fast-food value menu wars, as restaurants across the country try to lure back customers who are increasingly concerned about rising food prices.
The $6.99 footlong offer will be available until September 8 but comes with a catch. To take advantage of the deal, customers must place their orders through Subway’s app or website using the promo code “699FL.” The offer applies to all 22 varieties of Subway’s footlong sandwiches, giving customers the freedom to choose from a wide range of options or create their own custom sub.
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This pricing strategy follows a series of summer promotions from other fast-food chains, all of which have been struggling to increase sales and attract customers who are feeling the pinch of inflation. With prices on the rise, consumers are becoming more selective about where they spend their money, often opting to dine at home rather than eat out.
In announcing the new footlong price, Subway acknowledged the financial pressures facing many Americans today. Doug Fry, President of Subway North America, noted that “Today’s diner is stretched more than ever, and too often that means a tradeoff on quality, variety, or flavor to find an affordable meal.” This sentiment reflects a broader trend in the industry, where fast-food chains are trying to balance the need for competitive pricing with the desire to maintain the quality and variety that customers expect.
The move comes as the cost of dining out has soared since the onset of the COVID-19 pandemic. According to government data, restaurant prices have increased by 28% since January 2020, outpacing the overall inflation rate of 21% during the same period. This has led to a noticeable shift in consumer behavior, with more people choosing to cook at home rather than face the higher costs of eating out.
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Subway’s decision to lower its prices is part of a broader trend among fast-food chains. For example, McDonald’s recently introduced a limited-time $5 value meal in June, hoping to attract customers back into its restaurants. Despite these efforts, McDonald’s saw its global sales decline in the second quarter of 2024, marking the first drop since 2020. The company attributed the decrease in foot traffic to low-income consumers cutting back on their spending, particularly on dining out.
Other retailers have also responded to the challenges of rising prices by lowering their own. Target, for instance, reduced prices on various goods in a bid to bring budget-conscious shoppers back to its stores. This strategy appears to have paid off, as Target reported a rise in comparable sales for the first time in a year during the second quarter.
Subway’s $6.99 footlong promotion represents a calculated attempt to attract customers by offering value without compromising on the variety and quality that has made the chain popular. As fast-food chains continue to compete for the attention of cost-conscious diners, it remains to be seen whether these strategies will successfully bring customers back through their doors.
For now, though, Subway fans can enjoy their favorite footlongs at a more affordable price—at least until September 8.