Lil Caesars announces that they will be raising the price of their infamous ‘Hot-N-Ready’ pizza.
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The company said in a statement that they will start selling a “new and improved” version of their pizza which includes more pepperoni at a price of $5.55. According to CNN Business, this is Lil Caesar’s first price increase since the menu item’s launch in 2001. However, the company says their pizza is the most affordable in the country in comparison to Dominos and Pizza Hut.
“There are all kinds of pressures on businesses these days, but we still want to deliver the best product at the best value to our customers. They have told us they want more pepperoni. While other companies are decreasing their portions and increasing their prices, we decided to make our pizza even better. It still remains the lowest price in the business, but we’re adding more to it,” said CEO Dave Scrivano.
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He also noted how the pandemic and lockdowns increased productivity and profits in pizza sales due to contactless pickup and other options.
“We think that customers are going to be attracted by 33% more pepperoni and the ability to leverage those two channels. The purpose of this change is to attract more customers.”