Chipotle CEO Confirms the Brand Is Chasing Wealthier Diners — Strategy Targets $100K Earners [Video]

Chipotle is making headlines again, but this time it isn’t about E. coli or portion sizes. The fast-casual giant is facing a wave of backlash after CEO Scott Boatwright revealed exactly who the company considers its most important customers.

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During an earnings call earlier this month for the fourth quarter of 2025, Boatwright shared internal data that confirmed what many fans have suspected for years: the brand is increasingly becoming a luxury for the middle and upper class.

“We learned that 60% of our core users are over $100,000 a year in income,” Boatwright said in audio that quickly went viral across social media. He didn’t stop there, noting that this specific demographic gives the company “confidence that we can lean into that group in a more meaningful way.” For the average customer already feeling the pinch of inflation, the message was clear that if you’re looking for a budget-friendly meal, Chipotle might not be the place for you anymore.

The CEO’s comments come at a shaky time for the company. Despite bringing in $11.9 billion in total revenue for 2025, the actual number of people walking through the doors is dropping. Transactions fell by 3.2% year-over-year, and comparable restaurant sales dipped by 2.5% in the final quarter of the year. To fix this, Chipotle is planning a massive relaunch of its rewards program this spring, which will use AI-powered offers to try to win back customers who have stopped visiting. They even went big for the 2026 Super Bowl, giving away $1 million in free entrées to keep the brand relevant.

While the company has been quiet about future price hikes, it did raise menu prices by about 2% at the end of 2024. In California, diners saw a much steeper jump of 6% to 7% earlier that year due to the new $20 minimum wage for fast-food workers. With beef prices hitting record highs through the end of 2025, many analysts believe more increases are on the way.

A representative for Chipotle reached out to clarify the CEO’s remarks, stating: “CEO Scott Boatwright stated on Chipotle’s earnings call last week that 60% of its customers have an average household income over $100,000, so the company sees an opportunity to lean into these customers with new occasions like group or solo dining experiences. Since this consumer population is actively spending more at shops and restaurants today, Chipotle is giving them additional reasons to visit through new marketing and menu innovations, and enhancing the digital experience for all guests. Pricing was never mentioned regarding this consumer cohort, and Chipotle has taken a slow and measured approach by only increasing prices in this quarter by around .7% compared to the industry average of 4%.”

Despite the company’s defense, the perception that Chipotle is abandoning its roots as an affordable option for everyone is growing. By choosing to “lean into” the $100,000-plus crowd, the brand risks alienating the very fans who helped build its massive success.