As restaurants try to find ways to remain competitive while consumers can't or won't dine-in, Chris Brandt, chief marketing officer at Chipotle Mexican Grill, said his company's investments in technology have allowed it to flourish amid the coronavirus pandemic.
The fast-food chain recently built its 100th 'Chipotlane,' where customers place an order online or through the mobile app and pick it up at a drive-thru window.
"Those investments we made in the past really paid off during the pandemic. The usage of our delivery on our app has tripled and our app usage, in general, has doubled," Brandt added.
The rising popularity of Chipotlanes couldn’t come at a more perfect time as it provides a means of reducing the risk of coronavirus spreading, but according to Brandt, cleanliness, and customer/employee safety were always priorities.
"We already had a lot of industry-leading safety measures before the pandemic. We were doing wellness checks. We were providing sick leave for employees. So, clearly with COVID, we've ramped that up," he said.
While the cost of building a Chipotle with a drive-thru lane is more costly than a traditional store, the popularity of Chipotlanes makes the initial burden worth the cost, Brandt said.
"We've seen, definitely, an increase in sales that more than offset the increased cost of having a Chipotlane," he explained.
And if customers were hoping for a more traditional drive-thru experience with a menu board and loudspeaker, Brandt said that idea is a thing of the past.
"That really slows things down," he said. "With everybody having at least one mobile phone these days, it just seems kind of like the old-school way to do it."
In addition to Chipotle's 100th Chipotlane, the company is also testing a menu expansion with cauliflower rice. For Brandt, it's all about "added convenience," understanding what a customer needs, and listening to consumer suggestions. Not only does that include making their experience as smooth and effortless as possible, he said, but also continuing to provide options that meet lifestyle needs.
"It was one of the top three things people requested," Brandt said. "If all goes well with the test markets and it goes well, not only from the consumer standpoint but operationally something that is executed well, then you can look to see nationally at some point down the road."
Wealthfront’s CFO Alan Iberman talks the $2.05B IPO and the major moment for robo banking as the company bets on AI, automation, and “self-driving money."
A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
The New York Times and President Donald Trump are fighting again. The news outlet said Wednesday it won't be deterred by Trump's “false and inflammatory language” from writing about the 79-year-old president's health. The Times has done a handful of stories on that topic recently, including an opinion column that said Trump is “starting to give President Joe Biden vibes.” In a Truth Social post, Trump said it might be treasonous for outlets like the Times to do “FAKE” reports about his health and "we should do something about it.” The Republican president already has a pending lawsuit against the newspaper for its past reports on his finances.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.