Domino's Pizza Inc’s Digital Innovation Drives 2000% Growth
It’s fair to say that the retail industry is currently undergoing a massive digital overhaul, as companies left, right and center are striving to capitalize on the affordances of the digital medium, in the most innovative of ways.
In particular, none other than Domino's Pizza have paved the way when it comes to digital and mobile innovation over the past few years.
Taking Stock of the Digital Revolution
Rather impressively, since 2010, Domino’s stock has gone from to strength to strength and the company has achieved the mighty task of outperforming some of the most acclaimed tech companies in the industry, such as the likes of Amazon, Apple and Netflix, boasting a 2000% growth.
Several factors can be said to have contributed to the multinational company’s astronomic success, as the takeaway chain strategically chose to focus on producing better-tasting food, a highly effective marketing campaign and achieving global expansion.
It is also evident that the company's technological advancements have served to ensure customer satisfaction, by improving the speed and convenience of their delivery service. In light of this, it’s evidently apparent that Domino's drive to become a technology trailblazer has played a vital role in its success.
Improving the Business Through Digital Innovation
Domino’s has vastly improved the convenience of its services by enabling its food to be ordered through a whole host of digital platforms, this includes the likes of Amazon's Echo, Facebook Messenger, a smart TV, an Apple or Android smartwatch, a connected car, by texting, or by tweeting, making it even easier for customers to give into temptation and order a pizza.
A large portion of Domino’s success has come from its much acclaimed app, enabling customers to order with just the click of a button, or even more simply, via a voice activated command. And, if this is all still too much effort for the hungry pizza lover, they can also download Domino’s zero click app, which means absolutely no effort needs to be exerted at all. The ingenuity doesn’t stop there either, as customers can even track the progress of their order in real time.
Digital Strategy Drives Customer Engagement
Notably, Domino's ranked second in Applause's ARC research report, The Best and Worst Restaurant Apps of 2016. Domino’s score was based on more than 300,000 reviews compiled across Android and Ios platforms, making it one of the most reviewed eateries in the industry. This is no mean feat given that it still managed to rate so highly, which is a true testament to the level of customer engagement it has acquired through making use of its digital platforms
Even more impressively, Domino's sales growth is continuing to expand at a rapid rate, as the most recently reported quarter revealed that domestic same-store sales were found to be up 12% year over year. Revenue was also found to be up, showing a 10.6% increase, while earnings per share were up 25.4% This all but confirms the fact that Domino's digital ambition has served to create a culture of success.