Chipotle is a monster burrito!
It is the thoughtful opinion of many that the Covid-19 worldwide pandemic acted as an accelerator of trends that were already in process. This is a good observation.
We have seen an incredible rise in digital business from both online retailers as well as traditional brick and mortar operators. Convenience, social distancing and competitive pricing have really served to rev-up e-commerce. Even banks have seen a substantial rise in app usage by young and old alike.
A great example of adapting and thriving in this environment is Chipotle Mexican Grill. Chipotle is a seller of some of the best burritos and such West (or East) of the Pecos. They have been, traditionally, a dine-in quick service restaurant.
Sometime before the pandemic struck, Chipotle was making a hard move to enhance their digital and drive-through capabilities.
What has resulted is Chipotle recently announced in their most recent quarterly report that revenues increased 16%, including a 9% increase in same store sales. Also, post pandemic, digital sales made up almost 42% of total sales. Wow! Not only that but that their new Chipotlanes are becoming a major source of sales revenue as well.
Chipotlanes are the most modern adaptation of the venerable drive-through lane. Customers order digitally and then drive through to pick up their piping hot order. What a concept!
Additionally, they are debuting their Digital Kitchen concept...where you digitally order and take-out or drive-through only. Cool.
Lastly, Chipotle now has well over 20+ million rewards members. Chipotle's future is bright and they are a great NN and NNN tenant for our RealyInvest members!
Read all about it here. Enjoy!
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