Pizza Hut has dropped the price of its medium topped pizza to $5 as part of a new effort to entice bargain-hunters.
The discounted product is one of several on a new menu of products priced at $5 each. Other selections include a serving of eight boneless “wings,” pasta, a family-sized cookie or brownie, a double order of breadsticks and four 20-ounce sodas. Patrons need to order at least two items to get the $5 price for each.
The emphasis on value follows indications last month from Pizza Hut’s parent company, Yum! Brands, that the flagging pizza chain would shift its focus to convenience. It was not clear if the new deal is part of that effort or a holdover from an earlier strategy.
Pizza Hut is the laggard brand in Yum’s domestic portfolio, which also includes Taco Bell and KFC. “We’re still significantly lagging the performance of our nearest competitors and we clearly have much urgent work to do for this brand to fulfill its potential,” Yum CEO Greg Creed commented to investors in October.
A $5 pizza has been a signature of one of the brands stealing traffic from Pizza Hut, privately owned Little Caesars.