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Dining

Chipotle, Shake Shack & Wingstop: Dining Success in Q3 2024

Find out how Chipotle, Shake Shack, and WIngstop have performed so far in 2024.

By 
Bracha Arnold
October 22, 2024
Chipotle, Shake Shack & Wingstop: Dining Success in Q3 2024
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Key Takeaways
  • Foot traffic to Chipotle, Wingstop, and Shake Shack continued to impress in Q3 2024, with year-over-year (YoY) quarterly visits elevated by 12.7% at Chipotle, 24.2% at Wingstop, and 18.7% at Shake Shack.
  • The average number of visits to each chain’s individual restaurants also increased YoY in Q3 – 11.9% for Chipotle, 4.3% for Wingstop, and 1.4% for Shake Shack
  • Much of the chains’ visit growth is being driven by diners who prefer to eat off-site – In Q3 2024, short visits (10 minutes or less) to Chipotle, Wingstop, and Shake Shack increased between 17.0% and 25.5% compared to Q3 2023.

Chipotle, Wingstop, and Shake Shack have emerged as restaurant leaders, thriving and outperforming the wider fast-casual and quick-service restaurant (QSR) categories. How did these chains perform in Q3 2024? We dove into the data to find out. 

Foot Traffic Shows No Signs Of Slowing

Chipotle, Wingstop, and Shake Shack have become some of the most popular dining chains in the nation, each within its own respective niche: Chipotle excels at health-focused Tex-Mex meals, Wingstop serves up chicken wings and other game-day style dishes, and Shake Shack is known for its burgers and frozen custards. All three chains are leaning into growing demand for their offerings by adding new restaurants at a brisk clip. And for all three, the investment in fleet expansion is paying off, driving double-digit YoY visit growth.  

Of the three chains, Wingstop enjoyed the strongest YoY growth between June and September of this year, with visits rising 16.5% to 33.5% throughout the analyzed period. Shake Shack, for its part, saw visits increase between 12.4% and 25.9%. Meanwhile, Chipotle, continuing several years of visit growth, posted 10.0% to 12.9% YoY boosts. In contrast, the overall quick-service and fast-casual restaurant segments saw much more muted performance, with QSR visits hovering at or slightly below 2023 levels and fast-casual segments seeing modest visit upticks.

Visit Per Locations Show Similar Growth Patterns

One key driver behind the significant foot traffic growth for these three chains is their aggressive expansion. Wingstop, which saw the largest year-over-year (YoY) increase in foot traffic, opened some 138 new restaurants in 2024 alone, and hopes to open around 300 by year’s end. Chipotle has also been expanding rapidly, with around 52 new stores in 2024 so far and more on the way. Shake Shack, aiming to open 80 new locations this year, is similarly focused on growth.

A closer look at shifts in the average number of visits to the chains’ individual locations shows that this expansion is being met with strong demand. Chipotle and Wingstop saw monthly YoY visit-per-location increases throughout the analyzed period, while Shake Shack saw increases between June and August and experienced just a minor dip in September. 

These foot traffic trends – both across the chains and at individual locations – indicate that the new stores are successfully attracting steady customer interest.

Short Visits Drive More Growth

Another key factor driving success for the three chains is their pivot towards convenient takeaway options. Chipotle has focused on expanding its Chipotlane drive-thru service, while Wingstop has invested in an in-store digital platform meant to streamline the ordering process. And despite Shake Shack’s “anti fast-food” identity, the chain has also embraced drive-thrus and ordering kiosks to speed up service. 

The data suggests that consumers appreciate the increased convenience of these quicker  options: In Q3 2024, short visits (10 minutes or less) to Chipotle, Wingstop, and Shake Shack surged between 17.0% and 25.5% compared to Q3 2023. 

For Chipotle and Shake Shack, short visits increased significantly more than extended ones in Q3, likely due in part to the brands’ intense focus on drive-thrus: Of the 271 restaurants opened by Chipotle in 2023, 238 included Chipotlanes. And since adding its first drive-thru in 2022, Shake Shack has expanded this option to more than thirty locations. For Wingstop, longer visits increased somewhat more YoY than shorter ones – but in the wake of the chain’s rapid expansion, short and long visits both increased more than 20% YoY. 

Fast-Casual and Quick-Service Winners

Chipotle, Wingstop, and Shake Shack are succeeding, consistently increasing foot traffic and visits per location. Through strategic expansion and the adoption of drive-through and online ordering, these brands have firmly established their presence in the fast-casual and quick-service dining landscape.

Will the three restaurants continue to drive visit growth? Visit Placer.ai to find out.

This blog includes data from Placer.ai Data Version 2.1, which introduces a new dynamic model that stabilizes daily fluctuations in the panel, improving accuracy and alignment with external ground truth sources.

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