Little Caesars Raises Price of $5 Hot-N-Ready Pizza
Getty Little Caesars
Little Caesars is making changes to its signature $5 Hot-N-Ready pizza.
The classic pepperoni pie will now cost $5.55, the pizza chain announced in a press release Monday, and customers will get 33 percent more pepperoni in the "new and improved" dish.
"Change is good when it comes to giving our customers more of what they love," Jeff Klein, chief marketing officer at Little Caesars, said of what is planned to be a permanent menu change.
Despite the price increase, Klein added that Little Caesars' Hot-N-Ready is still sold at the "country's most affordable price."
CEO Dave Scrivano shared in a recent interview, per Forbes, that the boosted price is an effort to help cover steadily increasing labor and product costs.
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"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," Scrivano said, according to the publication. "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."
He added that he doesn't think the increase will push away customers. "We think that customers are going to be attracted by 33% more pepperoni," he said.
Little Caesars first coined the term Hot-N-Ready in 2001, becoming the first national chain to regularly sell pizza for immediate carry-out. It was later named one of the top 100 fast food items sold in U.S. history.
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Little Caesars isn't the only franchise that has recently announced a notable increase. In November, Dollar Tree revealed that "a majority of" its items will cost $1.25 instead of the traditional $1.
"The $1.25 price point, which will apply to a majority of Dollar Tree's assortment, will enhance the Company's ability to materially expand its offerings, introduce new products and sizes, and provide families with more of their daily essentials," the chain shared in a press release, adding that it will "have greater flexibility to continue providing incredible value that helps customers get the everyday items they need and celebratory and seasonal products Dollar Tree is best known for."
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"Lifting the one-dollar constraint represents a monumental step for our organization and we are enthusiastic about the opportunity to meaningfully improve our shoppers' experience and unlock value for our stakeholders," president and chief executive officer Michael Witynski said at the time. "Guided by Dollar Tree's same founding principles, we will be relentless in our commitment to offer our customers the best value possible."
