Little Caesars’ popular Hot-N-Ready $5 pizza is no longer $5. On Monday, the pizza chain announced its “new and improved” version of the Hot-N-Ready pizza. The improved recipe includes 33% more pepperoni. The upgraded pizza will also cost customers more. Little Caesers is pricing the upgraded Hot-N-Ready pizzas at $5.55, a price increase of 11%. It’s the first time that Little Caesars has raised the price of the Hot-N-Ready in almost 25 years. The press release announcing the news states the improvement to the Hot-N-Ready pizza is permanent. The price, however, is for a limited time and may climb higher soon. Despite all of this, Little Caesars is still pitching the Hot-N-Ready as the “country’s most affordable price.” Comparable pizzas from rival chains Dominos and Pizza Hut cost more than twice as much.
The company is trying to make the price hike palatable with extra pepperoni. Still, it’s hard not to flashback to Subway raising the prices on its famous $5 footlong sandwiches years ago.
“Change is good when it comes to giving our customers more of what they love,” said Jeff Klein, chief marketing officer at Little Caesars, says in the press release. “and we’re changing our iconic HOT-N-READY Classic, adding 33% more savory, meaty pepperoni still at the country’s most affordable price.”
Pizza sales have been on the rise since the COVID-19 pandemic began. That’s not surprising as pizza has long been a favorite for takeout and delivery home dining. As a result, pizza chain company stock is on the rise.
However, price increases have hit almost every economic sector as supply chain issues and labor shortages continue due to the pandemic. That includes restaurants. The Bureau of Labor Statistics says restaurant prices rose by 5.8% from November 2020 to November 2021.
Little Caesars makes its Hot-N-Ready pizzas daily with ingredients including fresh Muenster and mozzarella cheeses, vine-ripened tomatoes, and dough made in-house daily. Little Caesars launched the Hot-N-Ready pizza nationwide in 2004. Its draw remains the low price point and customers’ ability to walk in and pick one up for takeout without ordering ahead or waiting. The Hot-N-Ready pizza is one of the top 100 fast food items sold in US history.
What do you think of Little Caesars raising the price of its famous Hot-N-Ready pizza? Let us know how you feel about it in the comments section. Little Caesars’ Hot-N-Ready pizzas are on sale now for $5.55.