Pizza sales skyrocketed during the pandemic. Major chains saw a combined 6% uptick to $27.5 billion in 2020, according to an industry report from Technomic.
And while boom may have leveled off in recent months, some industry experts believe the trend is likely to continue, reported MarketWatch (Dec. 6).
Reasons for this, restaurant-industry consultant Stephen Zagor told MarketWatch, include pizza’s intrinsic appeal, as well as its adaptability. “There’s an incredible canvas for creativity,” said Zagor.
The boom has led to several recent developments in the pizza world.
MAJOR CHAINS LOOK TO EXPAND
Domino’s, which saw notable gains in 2020, is expanding internationally. Unlike the U.S., the pizza delivery market is underdeveloped in the rest of the world, reported Seeking Alpha (Dec. 5), and Domino’s wants to use this to their advantage.
The chain opened about three new stores per day over the last four quarters, primarily in the international market. The existing international stores have been growing, with same store sales up 8.8% last quarter.
Other players in the industry are also optimistic about growth. Little Caesar’s, for example, recently said it was looking to add over 100 new locations.
“The pizza industry is obviously doing quite well, so we’ve taken advantage of that,” said Craig Sherwood, the chain’s vice president of U.S. development, in an interview with QSR Magazine.
MOD PIZZA GOES PUBLIC
MOD Pizza, a Seattle-based fast casual chain, recently announced plans to go public, making it the eighth restaurant to do so this year, reported QSR Magazine (Nov. 23).
MOD has been particularly successful in the digital realm with revenue – which represented 40 percent of sales in 2020 – soaring a whopping 275%. Online/app transactions saw a 216% increase. Additionally, the chain’s loyalty program surpassed 2 million members, nearly doubling 2019’s total.
The chain reached the 500-unit mark in May. MOD currently has a deal with DBMC Restaurants for 30 stores over the next seven years.