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Chipotle (CMG) Boosts Digital Space With Loyalty Program Launch
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To strengthen the brand’s presence in the Canadian region, Chipotle Mexican Grill, Inc. (CMG - Free Report) recently announced the roll-out of its Chipotle Rewards loyalty program in Canada. Also, it stated plans for the expansion of its restaurants in the region.
With nearly 28 million members globally, the company’s loyalty program plays a supporting hand in its marketing strategies. With this initiative, the company intends to broaden its customer offerings, allowing them to earn and redeem points on purchases made through the restaurant, Chipotle app and website. Some perks include 10 points for every CAD $1 spent, free chips and guac.
Chipotle CMO Chris Brandt, stated, "We're excited to engage with our Canadian guests in a brand new way with Chipotle Rewards. Our personalized loyalty program allows members to select how they redeem points, earn Extras by participating in challenges, and achieve badges for their achievements."
Focus on Loyalty Offerings
To boost its guest engagement, the company relaunched its Guac Mode (an exclusive benefit for Chipotle Rewards members that unlocks access to surprise free guac rewards) during the first quarter of 2022. Following the relaunch, the company reported solid social engagement and a rise in loyalty enrolments. The company emphasized on personalization and using predictive modeling to trigger journeys that can influence guest behaviors and make their experience with Chipotle more relevant for them. This includes personalized messaging and watching their cumulative real food print based on their order history. Given the constant learnings, evolvement and model optimization, the initiatives will likely drive more frequency with rewards members in the upcoming periods.
Other Updates
Apart from the loyalty program, the company emphasizes on expanding access and convenience by accelerating new restaurant openings in Canada. Recently, the company opened its 10th restaurant in Toronto in the Liberty Village neighborhood. Also, it stated plans to open four additional locations in British Columbia and Ontario in the summer of 2022.
Backed by impressive unit economics and the success of small-town locations, the company anticipates opening between 235 and 250 new restaurants in 2022. CMG emphasized building a real estate pipeline with more than 80% of the restaurants having Chipotlane in it. The company anticipates an annual unit growth rate of 8-10%.
Image Source: Zacks Investment Research
In the past year, shares of Chipotle have declined 13% compared with the industry’s fall of 22.3%.
Dollar Tree sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 13.1%, on average. Shares of the company have gained 55.2% in the past year.
The Zacks Consensus Estimate for Dollar Tree’s 2022 sales and earnings per share (EPS) suggests growth of 6.7% and 40.5%, respectively, from the year-ago period’s levels.
BBQ Holdings carries a Zacks Rank #2 (Buy). BBQ Holdings has a long-term earnings growth of 14%. Shares of the company have decreased 19.1% in the past year.
The Zacks Consensus Estimate for BBQ Holdings’ 2022 sales and EPS suggests growth of 46.1% and 67.6%, respectively, from the year-ago period’s levels.
Arcos Dorados carries a Zacks Rank #2. Arcos Dorados has a long-term earnings growth of 34.4%. Shares of the company have risen 4.6% in the past year.
The Zacks Consensus Estimate for Arcos Dorados’ 2022 sales and EPS suggests growth of 16.6% and 83.3%, respectively, from the year-ago period’s levels.
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Chipotle (CMG) Boosts Digital Space With Loyalty Program Launch
To strengthen the brand’s presence in the Canadian region, Chipotle Mexican Grill, Inc. (CMG - Free Report) recently announced the roll-out of its Chipotle Rewards loyalty program in Canada. Also, it stated plans for the expansion of its restaurants in the region.
With nearly 28 million members globally, the company’s loyalty program plays a supporting hand in its marketing strategies. With this initiative, the company intends to broaden its customer offerings, allowing them to earn and redeem points on purchases made through the restaurant, Chipotle app and website. Some perks include 10 points for every CAD $1 spent, free chips and guac.
Chipotle CMO Chris Brandt, stated, "We're excited to engage with our Canadian guests in a brand new way with Chipotle Rewards. Our personalized loyalty program allows members to select how they redeem points, earn Extras by participating in challenges, and achieve badges for their achievements."
Focus on Loyalty Offerings
To boost its guest engagement, the company relaunched its Guac Mode (an exclusive benefit for Chipotle Rewards members that unlocks access to surprise free guac rewards) during the first quarter of 2022. Following the relaunch, the company reported solid social engagement and a rise in loyalty enrolments. The company emphasized on personalization and using predictive modeling to trigger journeys that can influence guest behaviors and make their experience with Chipotle more relevant for them. This includes personalized messaging and watching their cumulative real food print based on their order history. Given the constant learnings, evolvement and model optimization, the initiatives will likely drive more frequency with rewards members in the upcoming periods.
Other Updates
Apart from the loyalty program, the company emphasizes on expanding access and convenience by accelerating new restaurant openings in Canada. Recently, the company opened its 10th restaurant in Toronto in the Liberty Village neighborhood. Also, it stated plans to open four additional locations in British Columbia and Ontario in the summer of 2022.
Backed by impressive unit economics and the success of small-town locations, the company anticipates opening between 235 and 250 new restaurants in 2022. CMG emphasized building a real estate pipeline with more than 80% of the restaurants having Chipotlane in it. The company anticipates an annual unit growth rate of 8-10%.
Image Source: Zacks Investment Research
In the past year, shares of Chipotle have declined 13% compared with the industry’s fall of 22.3%.
Zacks Rank & Key Picks
Chipotle currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the Zacks Retail-Wholesale sector are Dollar Tree Inc. (DLTR - Free Report) , BBQ Holdings, Inc. and Arcos Dorados Holdings Inc. (ARCO - Free Report) .
Dollar Tree sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 13.1%, on average. Shares of the company have gained 55.2% in the past year.
The Zacks Consensus Estimate for Dollar Tree’s 2022 sales and earnings per share (EPS) suggests growth of 6.7% and 40.5%, respectively, from the year-ago period’s levels.
BBQ Holdings carries a Zacks Rank #2 (Buy). BBQ Holdings has a long-term earnings growth of 14%. Shares of the company have decreased 19.1% in the past year.
The Zacks Consensus Estimate for BBQ Holdings’ 2022 sales and EPS suggests growth of 46.1% and 67.6%, respectively, from the year-ago period’s levels.
Arcos Dorados carries a Zacks Rank #2. Arcos Dorados has a long-term earnings growth of 34.4%. Shares of the company have risen 4.6% in the past year.
The Zacks Consensus Estimate for Arcos Dorados’ 2022 sales and EPS suggests growth of 16.6% and 83.3%, respectively, from the year-ago period’s levels.