Chipotle Mexican Grill
Sun, Apr. 24, 5:51 PM
- A survey conducted by Cowen & Co. showed that 41% of respondents who received a free burrito coupon visited Chipotle (NYSE:CMG) 3.8x over the prior 30 days, compared with 1.4x for the 59% who didn’t receive a coupon. Brand perception was also higher in the couponed group.
- “We view couponing as the gateway to improving traffic in the near term, but do not view it as a sustainable strategy,” firm says, suggesting Chipotle may need to come up with a longer-term customer loyalty plan.
- Meanwhile, analysts at Credit Suisse found that Google searches for food-safety issues related to Chipotle have dropped sharply since the beginning of the year.
- Chipotle reports on Tue. April 26.