Jolene Wiggins is the CMO at Gravy Analytics. Jolene is a digital marketing executive with 25+ years of experience defining, building and marketing media and technology solutions online. She is a data-driven leader with proven ability to develop innovative and effective B2B and B2C digital marketing programs. She has work experience at both large corporations and high-growth startups. Led corporate marketing for two venture-backed startups.
Inflation-squeezed shoppers throughout America are increasingly turning to discount retailers like Dollar General as of late.
Starbucks reported its fiscal second quarter earnings Tuesday after market close.
The situation for the two restaurant chains could have been even worse if it weren't for "down-trading," a trend where low-income consumers trade more expensive for less expensive product bundles.
With inflation and gas prices soaring during the second quarter, Chipotle's year-over-year decline in foot traffic is likely a result of many people choosing to eat out less to save money. The decline could also indicate that the consumer shift toward food delivery and pick up, which came about due to the pandemic, is still strong even after COVID restrictions have been lifted.