money National Pizza Day, Taco Bell launches $5 Build Your Own Cravings Box
Tuesday, February 9th, 2021 marks National Pizza Day and pizza chains like Domino’s, Papa John’s, Pizza Hut, among others are looking to gain consumers’ attention with menu innovation and delivery. Meanwhile, Taco Bell is also looking to gain consumers' attention with its new '$5 Build Your Own Cravings Box,' which launches for all digital customers on February 11th. Brooke DiPalma joins Alexis Christoforous on Yahoo Finance LIVE to break down all the details.
Video Transcript
ALEXIS CHRISTOFOROUS: It's National Pizza Day. And fast food pizza restaurant chains are stepping up their game to innovate their menu and also bring some new options to the plate. Brooke DiPalma is here with all the cheesy details. Brooke.
BROOKE DIPALMA: Alexis, not just today on National Pizza Day, but all year round, Americans are consuming a lot of pizza. On average, 350 pizza slices are consumed per second by Americans. And in addition to that, on average, 3 billion pies are sold and consumed per year. And I think I might be included in the stat, but on average, 40 pies are eaten per person per year. And in order to meet that demand, a lot of it is happening via delivery.
In fact, 8% of pizza consumption happens by delivery. And so in order to meet that need, a lot of companies are being innovative. Domino's, in fact, came out with a cheeseburger and taco pizza earlier this year. Back in January, Pizza Hut launched a Detroit style pizza. And for the second time in Papa John's history, back in December, they launched a new stuffed crust pizza. So lots of ways to gain our attention.
ALEXIS CHRISTOFOROUS: You bet. Now speaking of new ways to gain attention, Taco Bell is out with what is it, a craving box? And you've got it there. A little show and tell.
BROOKE DIPALMA: I do. I do. In fact, this is not coming out for all members until Thursday. But right now, it is available for Taco Bell's reward members. If I open it up, it includes four total items. So I have a Cheesy Gordita Crunch, a crunchy taco, some cinnamon twists, and this Midnight Berry Freeze. If I just--
ALEXIS CHRISTOFOROUS: Don't give yourself a brain freeze.
BROOKE DIPALMA: Very good! Exactly! But we've seen a lot of these value menu items happen over the course of this pandemic. In fact, when I spoke to a Wall Street analyst, they said specifically due to the economic uncertainty, we can expect to see this over the course of the next year boxes like this. Value menu items like this. Taco Bell also does have a $1 value menu item. But this $5 Build Your Own Cravings box is in addition to that.
And the Wall Street analyst said that consistency among these value menu items is likely to continue due to that economic uncertainty. So I can't wait to dive into this and dive into all those fast food value menu options.
ALEXIS CHRISTOFOROUS: So I got to ask, upon National Pizza Day, are you going to be having pizza for dinner? What's going on?
BROOKE DIPALMA: I mean, I just might. But you know what, I actually have to say that being that I'm from New York, my local pizzeria is where I'm going to go. And so I think with that being said, lots of companies, Hormel Foods teaming up at Slice Out Hunger to support those local pizzerias. And in addition to that, we're seeing Hormel Foods frozen pies. We're seeing Nestlé frozen pies really get a spike as we're all at home. But local pizzeria, being from New York, is where it's at.
ALEXIS CHRISTOFOROUS: I got to be-- I'm from Brooklyn. Lots of pizza places per capita there. I'm with you on the local pizza places. Brooke DiPalma, thanks as always.
