Domino’s Pizza India, which is set to launch BurgerPizza on July 14, has said only innovations can help retain markets of quick service restaurants in view of the discretionary spending by consumers being low.
Consumers are resorting to controlled spending on eating out. The quick service restaurants (QSR) industry has been impacted by this controlled and discretionary spending. “Domino’s Pizza is innovating in food items and will launch more new products to stay ahead of the curve,” S. Murugan Narayanaswamy, Senior Vice-President (Marketing), said. More products will be launched soon.
BurgerPizza, available in two vegetarian and two non-vegetarian variants, has a starting price of Rs 89.
In recent months, Domino’s had launched Pizza Mani, Cheese Burst and Zingy Parcel to provide impetus to sales and revenue. BurgerPizza, a new category in QSR space, is expected to capture newer audiences.
Domino’s Pizza is the market leader in the chained pizza market in India, with a 72 per cent market share, according to EuroMonitor Report. The company currently has 1,039 outlets across India.
Burgers occupy 29.9 per cent share in the Indian QSR market as against pizza’s 26.7 per cent share.
The QSR industry is pegged to grow three-fold to Rs 25,000 crore within the next five years.