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And the first newly designed drive-thru store concept will debut in 2021.
A fresh infusion of cash should also help. In addition, Web visitors can purchase gift cards directly from the website.
Aug 14, 2020 Additionally, the brand added north of 800,000 first-time purchases via its app and web channels since early March, Garutti said—a figure four times higher than the same period last year. Fresh liquidity was raised through the sale of over 3.6 million new shares, netting Shack nearly $146 million in funding. Because of this rapid growth, the company plans to enhance its website and app with additional features such as personalization and feedback, and also provide real-time order status, Garutti said during the earnings call.
The key to this restaurant making incremental progress will be its digital-selling capabilities and new to-go format. The most interesting aspect of Shake Shack’s growth is that the company has spent very little on advertising.The brand’s strength has been developed almost exclusively through unpaid online marketing campaigns. The free newsletter covering the top industry headlinesThe free newsletter covering the top industry headlines It's obviously still very early on in the economic recovery, and with COVID-19 still running amok out there, some of this internet-based consumer behavior could eventually backtrack. Cumulative Growth of a $10,000 Investment in Stock AdvisorShake Shack Begins a New Era of Restaurant Development Flush With Cash @themotleyfool #stocks $SHAK $SBUX Though Shake Shack was hit harder than some its burger peers (Still, much work remains for Shake Shack.
With these new formats, Shake Shack should be in a much better position thanks to its strong digital channels, particularly as it gains digital orders through its native channels.
Keeping customers on its native channels will provide the company with their data, which could enable the company to better target its promotions and create stronger loyalty. Hanging on to digital sales.
Nicholas has been a writer for the Motley Fool since 2015, covering companies primarily in the consumer goods and technology sectors. As bad as things look right now for Shake Shack, it would have been far worse if not for its digital capabilities. Shake Shack uses the following 3rd Party Services in order to provide the best user experience to its guests: Google, Facebook, Instagram, Twitter, Youtube, Mailchimp, Salesforce, AWS, Cloudflare, Career Arc, Spotify, Paytronix, TeamWorld, Olo, and Session M. "But the most important feature will be the ability to offer delivery directly through our own channels for the first time, targeted at keeping guests within our native infrastructure and deepening our ability to connect directly with them over time," Garutti said.
In July, digital sales mixed 62 percent, and, critically, Shake Shack retained 90 percent of digital sales achieved in May, even as in-store sales returned. To that end, Shake Shack's cash will come in handy to help it bridge the gap now while it tries to find its footing, and as it develops new properties. Shack Track is an enhanced digital order and pick-up solution that allows customers to order and pay via app or web and pick up by way of drive-up window, curbside, walk-up window or in-store pick-up shelves. He is also the founder and president of Concinnus Financial, a Registered Investment Advisor based in Spokane, WA. Also like Starbucks, Shake Shack is planning changes to the actual makeup of its real estate to accommodate the shift in behavior that is shaping up.
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