Fast food giant Domino’s has slashed prices on its pizza range by up to 50% in the buildup to the cricket World Cup.

Starting today, customers can enjoy their favourite large vegetarian pizzas from Domino's for just Rs 499, down from the previous price of Rs 799. Similarly, non-vegetarian pizza lovers can order large pizzas for an attractive price of Rs 549, a substantial drop from the previous rate of Rs 919.

The quick-service restaurant (QSR) chain hopes to use the offer to drive sales and fend off competition in a sporting event that has a festive fervour to it and sees a spike in delivery orders.

In addition to the substantial price reduction on large pizzas, Domino's India has introduced Everyday Value offers to cater to a wider audience. The Howzzat50 offer gives customers a flat 50% discount on pizzas.

While the ODI World Cup naturally generates high demand for fast food, Domino's India wants to get ahead of the competition by deploying a strategic price cut likely due to competition from other food categories and cuisines such as burgers and biryani in particular.

Domino's has also seen some moderation in key input costs like dairy and cheese, which allows the company to pass on the benefits to its customers.

Domino's India recently broadened its reach by launching 23 new outlets and venturing into one new city taking the total number of stores to 1,838 spread across 394 cities.

Additionally, the company introduced four new eateries for Popeyes and made its debut in two new cities, Manipal and Coimbatore, resulting in a total of 17 restaurants across four cities.

On September 27, Karan Taurani, a Senior Vice President and Research Analyst at Elara Capital stated that the pizza industry is encountering fierce competition, and its potential for growth might not be immediately apparent. In fact, when reviewing market share statistics over the past 3-4 years, it becomes clear that the pizza sector has lost ground within the larger quick-service restaurant (QSR) chain sector.

“If you look at the market share numbers over the last 3-4 years, pizza has lost market share as a category within the overall QSR chain. So, it's a win-win for burger, fried chicken for aggregators like Zomato, over the near to medium-term,” said Taurani.

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(Edited by : Shweta Mungre)

First Published:Oct 4, 2023 10:56 AM IST