01:35 PM EDT, 07/31/2024 (MT Newswires) -- McDonald's (MCD) $5 meal is helping to reverse a slump in customer traffic and is helping win over consumers from rivals, Bloomberg reported Wednesday, citing a company memo to franchisees it viewed.

The fast-food chain said it recorded an "incremental lift" of almost 3% in guest counts during the promotional run, which began June 25. More customers have tried the deal than the company originally anticipated, and lower-income diners showed the most interest, Bloomberg reported, citing the memo.

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