Data shows that pizza chains outperformed other dining options in 2016.
After a year of the restaurant industry struggling with sluggish traffic, Domino’s Pizza Inc. shares are up 45 percent this year, and Papa John’s International Inc. is up over 60 percent. Some blame the slow traffic as a result of presidential election anxieties about minimum wage and immigration. But the pizza industry has not only remained unscathed, but has thrived.
“Restaurants that have succeeded this year have been the ones that have addressed convenience,” says Stephen Anderson, an analyst at Maxim Group LLC. “The pizza chains have done a good job at this.”
Pizza delivery, unlike any other food option, is cheap, fast, incredibly effortless on the consumer’s part and has integrated technology in way that allows pizza lovers to embrace their ultimate couch potato-ness. This year alone, Domino’s added five new ordering methods, like ordering from an Apple TV or through Twitter or Facebook.