The answer lies in why you are buying your pizza. If you want to buy a beautifully put together pizza with toppings that you love and a delectably thin, crisp crust then basically you’re going to walk right past a joint offering $1 pizza. You know that $1 pizza slice will be none of those things.
But if you’re busy, hungry and all you want is something reasonably tasty to stop that hungry feeling then you’ll grab that $1 slice and fel incredibly thankful you live in NYC where it is so easy to buy reasonable food which is just about the cheapest possible.
The pizzerias offering you a $1 slice versus a higher price know what they are doing. Of course the pizza slice costs more than $1 to produce but when you sell a huge number of them and most people buy something else as well, then you can turn a very respectable profit. See the video for the extreme example of a $1 slice versus a $1,000 slice, though frankly that $1,000 didn’t look that delectable to me. A perfect tomato, cheese and pepperoni…is well, perfect and I’ll happly pay more than $1 a slice to get that perfection.
Life can get ugly when cheap pizza places go head to head. In 2012, 2 pizzerias duked it out on 6th Ave off 38th St in Midtown. They were 2 Bros Pizza and Bombay/6th Ave. They both dropped their price to .75 cents per slice and the war continued for 2 years. By the end of 2014, 2 Bros Pizza folded and moved away and Bombay/6th Ave promptly raised the price of a slice to $1.50 see
So cheap pizza, is what it is. If you want a solid pizza experience – pay more and it will be well worth it.