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Chipotle CEO sounds alarm on the American economy: Gen Z and millennials are too burdened by unemployment and student loans to eat out (finance.yahoo.com)

submitted 6 months ago by FlashMobOfOne@lemmy.world to c/usa@lemmy.ml

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Even fast-casual dining may be too much of a financial burden for younger generations.

Chipotle CEO Scott Boatwright said young diners between the ages of 25 and 35 are cutting back on dining at the Mexican-inspired fast-casual chain. But these millennial and Gen Z customers are not snubbing Chipotle for other fast food spots; they’ve stopped dining out as frequently altogether.

“This group is facing several headwinds, including unemployment, increased student loan repayment, and slower real wage growth,” Boatwright told investors at the company’s earnings presentation on Wednesday. “We’re not losing them to the competition. We’re losing them to grocery and food at home.”

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[–] FlashMobOfOne@lemmy.world 36 points 6 months ago (1 children)

No shit, Sherlock.

What are they expecting when they not only enshittify the product but increase the cost of it to the price of a whole-ass pizza?

[–] PanArab@lemmy.ml 4 points 6 months ago* (last edited 6 months ago) (1 children)

Chipotle makes pizza?

Edit: apparently they had a pizza chain called Pizzeria Locale that failed https://www.thetakeout.com/chipotle-restaurant-pizzeria-locale-locations-closing-1850614719/

[–] UnpledgedCatnapTipper@piefed.blahaj.zone 11 points 6 months ago

They're saying you get a single burrito for the price of an entire large pizza. It's a bad value when your budget is limited.