The pizza chain Little Caesars is increasing the price of its famous Hot-N-Ready pizza above $5 for the first time in a quarter-century, according to reports.
The third-largest pizza chain in the United States is raising the price of one of its most popular deals. Little Caesar says its signature five-dollar hot ready pizza will now cost 5.50 dollars. This is an eleven percentage price increase, but the price hikes come with some perks. The new version of the hot and ready pizza will be topped with 33% more pepperoni.
Why did Little Caesar’s Pizza Price Increase?
It’s the deal’s first prize increase since its introduction years. The Detroit based pizza chain first introduced the five dollars HOT-N_READY Pizza back in 2001 and it went national in 2004. It went hit across the world, not only because of its differentiated taste but also because of the innovation behind it. It was ready for taking out without the need to preorder it.
Little Caesars CEO Dave Scrivano said the increased price is meant to balance rising labour and commodities costs, as the price of pepperoni has soared by more than 50% over the pandemic.
“Our franchisees were highly accepting of this proposition. They want to treat their customers like gold and make sure they get the best product possible and they love the idea of more pepperoni,” he told Fortune. “We think we’ve got something good here with delivery and our Pizza Portal and our Hot-N-Ready pizza. We’ve got a good structure to drive overall growth.”
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According to the Bureau of Labour Statistics prices for basically everything has blossomed. At restaurants, there is an average price increase of 5% for most of the products.
Jeff Klein, chief marketing officer at Little Caesars opine that change is good when it comes to giving customers more of what they love. He added “ and we are changing our iconic HOT-N-READY Classic, adding 33% more savoury, meaty pepperoni still at country’s, most affordable price”
The updated HOT-N-READY Classic with more pepperoni is slated as a permanent menu item change.
The pizza chain saw a record year in sales in 2021, due in part to the fact Little Caesars instituted changes in 2019, before the onset of the pandemic, that allowed a contactless experience for customers early on. During pandemic times also pizza sales exploded.
Little Caesars- The Legacy of Taste
Little Caesars is an American multinational pizza chain spread across America, Asia, Europe and the Middle east. The company was founded in 1959 by Mike Illitch and his wife Marian Illitch and since then, they are famous for their affordable prices.
The company is famous for its catchy advertisement title “ Pizza! Pizza! “. The catchphrase introduced in early 1979 was a hit at that time. The phrase referred to two pizzas being offered for the comparable price of a single one from its rivals.
In 1997, the pizza chain introduced shaker boards to introduce their Hot-N-Ready Pizza, a large pepperoni pizza sold at $5. This concept became a super success and it became a permanent fixture of the chain and the company as a whole began to shift on the carry out model.
Little Caesars produces a wide variety of pizzas. Their core and popular menu items are part of their HOT-N-READY Menu.
Apart from pizza, they have got wings, breadsticks and soft drinks.
Little Caesars believe that their customers will support them with the new decisions. A similar piece of pizza from dominos and pizza hut costs an average of $15 depending upon the location.
