Chipotle fans are reaching their breaking point, and a viral clip from the company's latest earnings call isn't helping. CEO Scott Boatwright sparked a firestorm of social media outrage after revealing that the fast-casual giant’s "core" customer isn't exactly the budget-conscious college student of years past. Instead, the brand is pivoting its gaze toward a much more affluent diner.
During the fourth-quarter 2025 earnings call on February 3, Boatwright shared internal data that many interpreted as a green light for more expensive bowls. “We learned that 60% of our core users are over $100,000 a year in income, in average household income,” Boatwright said in audio that quickly went viral. “That gives us confidence that we can lean into that group in a more meaningful way.”
The remarks surfaced as Chipotle reported a challenging year, with comparable restaurant sales declining 2.5% in the fourth quarter and transactions dropping 3.2%. By focusing on the 60% of guests making six figures—who are still spending despite the tough economy—Chipotle appears to be shielding its bottom line from the "convenience plateau" hitting the industry.
CEO of Chipotle caught on a recording indicating they’re going to keep raising prices because they can“We learned that 60% of our core users are over $100,000 a year in income, in average household income. That gives us confidence that we can lean into that group in a more… pic.twitter.com/5nYcigMgJo
— Wall Street Apes (@WallStreetApes) February 7, 2026While many fans heard a threat of higher prices, Chipotle’s leadership maintains the strategy is about marketing, not just the menu. Chief Corporate Affairs Officer Laurie Schalow emphasized that the goal is to give high earners more reasons to visit, such as solo dining innovations or group catering.
"Pricing was never mentioned regarding this consumer cohort," Schalow said in a statement. She noted that Chipotle’s price increases this quarter hovered around 0.7%, significantly lower than the industry average of 4%.
However, the "confidence" Boatwright mentioned comes at a tense time. Record-high beef prices and labor inflation are squeezing margins. CFO Adam Rymer recently suggested that additional nationwide increases of 1% to 2% could be on the horizon for 2026. The internet hasn't been kind to the CEO's remarks, with many arguing that even the "affluent" demographic isn't impressed. On Reddit, the backlash was swift, with users slamming the company for prioritizing profits over the quality and portion sizes that made the brand a household name.
"What an absolute mess," one fan wrote. "The CEO is caught on a recording saying that he doesn't want the poors in his store... We got Campbell's up outta here, sir. We can get you outta here too!"
Even those within Chipotle’s new target demographic aren't biting. One mother with a household income over $150,000 shared that she rarely visits anymore because "the food is complete ass and the portion sizes are a joke." She added, "Rather give the local Mexican joint our money. More food & better quality at a similar price."
Others noted that as prices climb toward the $20 mark, the "value for dollar" disappears. "If they cared about six figure earners they’d improve the quality and portion sizes which have both cratered," another user added.
For the six-figure earners Chipotle is courting, the decision to dine out often comes down to flavor over price—but that may be where the brand is failing. One diner mentioned spending $40 on a beef wrap for hotel delivery specifically because they wanted high quality, noting, "I checked the reviews... what I cared about was quality of food, and flavor over value for dollar. That said, I don't think I would ever order from Chipotle anyway."
To win back those who are drifting away, Chipotle is planning a major relaunch of its Rewards program this spring, featuring AI-powered personalization and gamified challenges. But with a "K-shaped" recovery seeing lower-income diners cut back and higher-income diners becoming more selective, a digital-first strategy might not be enough to fix the sting of a shrinking burrito.
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