Restaurant operators are concerned that people paying student loans will eat out less. Domino’s is giving them a big incentive not to.
The Ann Arbor, Mich.-based pizza chain said on Wednesday that it would give away $1 million worth of pizzas to people who start repaying their student loans. The company started giving out codes for one free medium two-topping pizza on Wednesday and will give out codes each day until all $1 million worth of pizzas have been handed out.
Domino’s has limited the amount of pizzas given away on any given day. As of Thursday morning the company had given out $124,000 worth of pizzas.
To get a pizza, customers have to “apply” on a website it established for this purpose. They verify their email address and if there are any pizzas available that day the company will send them a code that must be used within 30 days.
“When life gives you loans, Domino’s gives you free pizza,” Kate Trumbull, Domino’s chief brand officer, said in a statement.
The promotion follows Domino’s “Emergency Pizza” promotion in which it is giving away pizzas to customers who order online over the next few months. And it comes as Domino’s has upgraded its loyalty program, giving customers the ability to get food with fewer points.
It also comes as Domino’s has been working to rebuild sales after a difficult two years coming out of the pandemic, as driver shortages and consumer normalization have softened demand at the chain’s restaurants.
Millions of Americans have started repaying their student loans recently after a three-year pandemic break. There are concerns that the repayments could influence those customers’ spending power, which could ultimately hurt retail sales. So far, that has yet to happen.
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