June 3, 2024
While pricing continues to be a hot topic and challenging conundrum for restaurant operators in 2024, Domino’s Pizza is confident in its firm stance on the pizza delivery value equation. The Ann Arbor-based company purposefully did not raise prices last year and has not done so thus far this year, which has been beneficial for the bottom line, Domino’s CEO Russell Weiner said in a fireside chat during the annual Bernstein’s Strategic Decisions conference.
As most quick-service restaurant chains struggle to balance profitability with perception of value and affordability, particularly for lower income consumers, raising prices has been a common strategy. However, as NRN recently reported, 78% of Americans now believe that fast food is a luxury purchase, according to a new LendingTree study.
According to Russell Weiner, Domino’s saw the writing on the wall about consumer spending in this inflationary environment and pumped the brakes on pricing a bit earlier than most.
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