Taco Bell expands value menu with new items under $3 | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

Despite a challenging economic climate, Taco Bell continues to outperform expectations and defy all odds by embracing innovation and value. The fast-food chain has prioritized releasing new menu items constantly while focusing on affordability.

If you thought Taco Bell couldn’t get any more budget-friendly, think again. It has just dropped its most value-worthy menu items yet.

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Taco Bell is launching two new grilled steak burritos for just $3 each as part of its Cravings Value Menu, which features items all priced under $3.

Taco Bell’s new Grilled Steak Burrito lineup

Chipotle Ranch Grilled Steak Burrito: Marinated grilled steak, shredded lettuce, pico de gallo, cheddar cheese, and crispy Fiesta tortilla strips, topped with Chipotle Ranch sauce and Avocado Ranch, all wrapped in a soft flour tortilla.
Cheesy Melt Grilled Steak Burrito: Marinated grilled steak, 3-cheese blend, and seasoned rice, topped with Jalapeño Ranch and reduced-fat sour cream, all wrapped in a soft flour tortilla.

The new Chipotle Ranch Grilled Steak Burrito and Cheesy Melt Grilled Steak Burrito will be available at all participating Taco Bell locations nationwide beginning August 7, for a limited time.

Taco Bell launches two new Grilled Steak Burritos for $3.

Image source&colon; Shutterstock

Why Taco Bell’s value strategy works

Taco Bell’s aggressive value strategy isn’t new. The fast-food chain introduced its Cravings Value menu in January 2024, replacing its long-standing Dollar Cravings Menu, which was introduced in 2014.

While the original menu featured $1 items, inflation and rising food costs made that price point unsustainable.

The updated value menu allows Taco Bell to remain competitive while offering appealing options at accessible prices. This is part of the fast-food chain’s broader strategy to capture value-conscious consumers, who have become a growing demographic as economic uncertainty continues.

By offering menu items at lower prices, Taco Bell is driving foot traffic and increasing market share in an industry where others struggle to maintain momentum.

This helps it stand out among rivals like McDonald’s (MCD) , Wendy’s (WEN) , and Burger King (QSR) , which rely on value offerings to drive customer loyalty.

Taco Bell delivers strong financial results

Taco Bell’s value-first strategy has worked in its favor, and the results speak for themselves.

In the second quarter of fiscal 2025, Taco Bell’s total sales were up 6% year-over-year, with same-store sales increasing by 4%.

Taco Bell’s success has also been a major win for its parent company, Yum! Brands (YUM) , making it the strongest performer in its portfolio, accounting for 85% of its U.S. profit.

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Another key driver of Taco Bell’s growth is its digital innovation. In the second quarter, 41% of all orders were placed digitally, fueled by loyalty rewards and app-exclusive promotions.

At the same time, active loyalty membership grew nearly 45% year over year, reflecting strong customer engagement.