People aren’t about to let the pandemic stop them from eating pizza. While you were out stocking up on toilet paper and hand sanitizer, your neighbors have been filling their freezers with precious pies.
According to Ad Week, Americans are buying about 92% more frozen pizzas than this time last year, and grocery stores are struggling to keep them in stock.
The number of reviews for frozen pizzas at Target ($TGT) had been falling since November. But, since the beginning of April, the average number of reviews shot up 33%.
But as panic slowly subsides and we settle into our quarantined lives, our pizza patterns adjust. Pizza chains like Domino’s ($DPZ) are advertising “no contact delivery,” and apparently those three words are enough to move a lot of pizza. Ratings for the Domino's app dropped 5% over just five days last month, but have since climbed back up 2%.
Pizza Hut ($YUM) hopped on the contactless trend and watched Facebook mentions soar 137% since the end of March.
A few days ago Papa John's ($PZZA) CEO Rob Lynch announced plans to hire up to 20,000 new employees in an effort to keep up with delivery demand. The company’s employee headcount has continued to grow over the past few months, along with its stock. Shares of Papa John's are up 22% over the last five weeks.
Domino's and Pizza Hut have also announced that they will be hiring more new employees amid the pandemic. The world could be crumbling, but the pizza industry is always hot.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.