It’s 2024 which means many members of Generation Z are all grown up and starting to see adult problems — mostly money problems — creep into their lives. Now, one favorite Gen Z hot spot, Chipotle, is stepping up to try to help them out.
According to Credit Karma, zoomers are racking up credit card debt at a rate faster than any previous generation. Gen Z saw their overall debt rise by 19% from 2022 to 2023.
On top of that, an Intuit Survey says 66% of Gen Z say they’re not sure they’ll have enough money to be able to retire. Considering they were born between 1997 and 2012, they’ve got a bit of time, but it’s never too early to start thinking about it.
More aging, more problems, right?
So what can these trendsetting teens and young adults do to start on the right foot? Get a job.
Welcome to the workforce, Gen Z!
Investment bank Piper Sandler found in its “Semi-Annual Taking Stock With Teens Survey,” that 37% are holding down a part-time job.
Gen Zers looking to earn cash to snag Nike kicks or e.l.f. makeup — the top clothing and cosmetics brands per the Piper Sandler survey — need to find a job, one that speaks to them and their wallet.
Enter Chipotle. The Mexican grille is now trying to attract extra Gen Zers to join its burrito-building bunch.
Chipotle, which calculates that more than 73% of its restaurant employees are Gen Z, recently announced new benefits catering to the challenges facing zoomers.
- First, Chipotle is offering a student loan retirement match program using SoFi’s Student Loan Verification Service.
- Next, employees will also have access to what Chipotle calls a high-tech Visa card that can help them build credit.
- Also, a new Employee Assistance Program will give workers access to mental health resources.
Chipotle is looking to hire 19,000 additional employees ahead of its busiest time of year, March to May, known in the biz as “burrito season.” Mark your calendars!
Chipotle’s aim to hire Gen Z should not come as a shock to anyone familiar with the brand. The company has been targeting this particular generation — which makes up about 40% of global consumers — through ads, viral videos and food campaigns for years.
For example, remember the “Boorito” event in October 2023 that saw college campus locations stay open until midnight on Halloween for the first time? And then there was the “Free-Pointer” text-to-win offer during last year’s March Madness — just to name a few examples.
Chipotle also gained fame with the Gen Z crowd thanks to viral videos — specifically “mukbang” videos, which show people gorging on all different types of food.
Chipotle also partnered with one of TikTok’s top food reviewers, Keith Lee.
All of Chipotle’s hard work seems to be paying off as the brand has made it onto numerous lists of top-rated companies by Gen Z consumers.
Gen Z research and consulting firm dcdx ranked Chipotle on its list of the “Top 25 Most Magnetic Brands of 2023,” meaning companies that can attract young consumers while distancing themselves from competitors.
The firm says Chipotle is consistently a favorite brand of Gen Z’s for content creation.
But just like when your burrito needs more chicken, Chipotle has room to grow as it came in 22 out of 25 on dcdx’s list.
The No. 1 magnetic brand was McDonald’s, which has been praised in Gen Z circles for capitalizing on the Grimace Shake craze of ‘23 that saw TikTok users produce an eerie trend of taking the fun-loving purple mascot into thriller territory.
Furthermore, dcdx says when “brands show up for their communities, their communities show up for them,” while noting the Grimace trend had nothing to do with what McDonald’s did in the moment.
“2024 will be the year young people realize more than ever the power they hold in the balance between consumer and culture,” according to dcdx. “And it will be the brands that not only recognize this, but respect it, that will earn the loyalty of this elusive yet unwaveringly passionate generation.”
Now, dcdx is calling on Chipotle to think outside the box to remain a magnetic brand this year.
Perhaps the Gen Z benefits will do the trick, but some more free food offers probably wouldn’t hurt either. That goes for all generations.
