Chipotle’s pricing confidence may be ahead of its customer sentiment

• 'Higher-income customers ($100k+) increasingly view Chipotle as overpriced for its quality and the trend is accelerating faster than the general population. Despite CEO optimism, Occam data reveals a widening perception gap that warrants attention.
• 'Occam suggests a significant portion of higher-income customers ($100k+) view Chipotle as accurately priced for the quality delivered. This initial snapshot suggests the premium positioning is working, for now.
• 'The quarterly trend reveals an increase in customers unhappy with the quality of the offering given the price of the Chipotle menu items. In fact, the percentage of higher-income customers who feel Chipotle is overpriced for its quality has grown faster than the general population, precisely the cohort Chipotle is counting on to sustain growth.

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