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Analysts predict Chipotle annual customer traffic to reach 180,000

July 1, 2010

An analysis by Trefis on Forbes.com has speculated that Chipotle customer traffic, which was 170,000 in 2007, will return to normal and even surpass that mark as consumers recover from the economic downturn.

The analysis speculates tighter budgets led to a decline in customer counts based on the chain's higher-priced menu items.

The analysis also speculates the average ticket price will reach $14 per person.

From the story:

The average amount spent by a customer at a Chipotle restaurant rose steadily from $8 in 2005 to $10.5 in 2009, driven by rising menu prices that were in turn the result of increasing ingredient costs.

We expect the average spend per customer to reach $14 by the end of our forecast period, again driven by rising ingredient costs that Chipotle will pass on to restaurant patrons.

During the economic downturn of 2008 and 2009, Chipotle saw customer traffic decline due to lower U.S. consumer spending. Customers also reacted poorly to rising menu prices during hard economic times.

That said, Chipotle's strong focus on customer service coupled with improving economic conditions should bring patrons back to the restaurants. We expect the number of visits per restaurant per year to reach 180,000 levels by the end of the Trefis forecast period.