Too Many Slices In The Pizza Pie! What's Behind Recent Pizza Promotions? - Freshworks (NASDAQ:FRSH), Yum Brands (NYSE:YUM), Papa John's International (NASDAQ:PZZA), Domino's Pizza (NYSE:DPZ)

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It is raining offers for pizza fans, as pizza companies announce promotions left, right and center in a bid to perk up sales. This unusual high-intensity, high-pitched campaigns have been the order of the day since late last year, and the trend is continuing into the new year.

Offers Galore

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Some offers of Domino's Pizza, Inc. (NYSE: DPZ), include a discount of up to 20 percent on group purchases, two menu items for $5.99 in a mix and match deal, a large of one-topping pizza and an eight-piece order of chicken for merely $14.99, etc.

Papa John's Int'l, Inc. (NASDAQ: PZZA), not wanting to be left far behind, has had its share of offers. Upon Visa Inc (NYSE: V)'s Visa checkout, Papa John's offers a free large one-topping pizza, redeemable using a promo code, 25 percent off offer, free large one-topping pizza, etc.

Yum! Brands, Inc. (NYSE: YUM)'s Pizza Hut offers free cheese sticks on becoming a Hut Lovers member, any large pizza for $11, $10 for any large carryout pizza, large two-topping pizza for $7.99 each and other deals.

Papa Murphy's Holdings Inc (NASDAQ: FRSH)'s offers included $3 off family pizza; $2 off large pizza or $1 off medium/delite pizza; $2 off any pizza, any size; $6 off two family-size pizzas; large cowboy pizza for only $10, and more.

What's Driving The Promotion Spree?

There are several reasons a company might want to offer promotions. Some of these could be:

To attract the attention of consumers to a particular product offering.
To promote a new product.
To win the goodwill of customers or buy their loyalty.
To lure repeat customers. Some of the promotions require that a customer visits the store again to claim a reward.
To zero in on marketing efforts, targeting the customers. The swiping of loyalty card each time a customer makes a purchase at the store presents the stores with the data on buying behavior.
To take on competition: Pizza sales have now become highly competitive. Even the beleaguered Chipotle Mexican Grill, Inc. (NYSE: CMG) has a pizza concept now. To stay afloat, companies are forced to undercut prices or offer promotions.
To stimulate sales in a saturated market.
To combat food deflation, which makes the takeaway option expensive relative to eat at home, could also force companies to cut prices to attract customers to their outlet.