“We’re not losing them to the competition. We’re losing them to grocery and food at home,” Scott Boatwright said.

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.”

  • FlashMobOfOne@lemmy.worldOP
    4·
    3 days ago

    the feeling of economic valueless

    This is a really good point. There’s a local pizza place near me and a large costs $25 with one topping, but it’s so dang good I never question the price. But you won’t find me dropping $10 for a junky Papa John’s pizza.