Domino’s 2024

Jun 24, 2024 | Insights, Restaurant Research

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Executive Summary

Domino’s is well positioned, ranked #1 in both delivery (30% share) and carryout (19% share). This iconic pizza brand is well known for its: digital ordering convenience & seamless payments; compelling everyday value offers; and fast delivery. An industry leading 85% digital mix is facilitated by its innovative “AnyWare” ordering platform and the chain’s check outperformance reflects the benefit of large digital group orders as well as high margin add-on sales. Domino’s is focused on feeding families/groups at a reasonable price per person and its promotional deals drive the majority of its sales. Prominent everyday value price points include: its $7.99 3 topping pizza carry-out deal; and its 2 for $6.99 each mix-and-match deal. The chain’s value equation further benefits from an updated reward program (33MM active members) which allows users to earn points faster and periodic “boost weeks” which offer 50% discounts off menu prices. 2H24 comp guidance of +3% is expected to be driven by: low-single digit menu price increases; growth from its rewards program; and growth from its Uber Eats partnership. Long-term growth drivers include: competitive price points; leading-edge digital ordering platform; extensive customer data capabilities that drive effective marketing & customized offers via its loyalty program; and the chain’s fortressing strategy which is designed to improve both delivery & carryout service. In conclusion, while Domino’s is well positioned in the solid pizza segment, the chain must continue to find ways to offer its price sensitive customers with convenient, cost-effective delivery options that will keep them from choosing to cook for themselves at home.

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