Chipotle Mexican Grill has turned the stock market strategy “buy the dip” into a new game where it is giving away $200,000 in cryptocurrency and 650,000 promo codes for 1-cent guacamole and Queso Blanco.
Why it matters: Businesses are looking to drive loyalty with deal day promotions like last week’s National Hot Dog Day and National Ice Cream Day to build bigger customer databases.
Driving the news: The game kicks off at 10 a.m. PT Monday on a special website and will be held daily through July 31, which is National Avocado Day, the chain announced Monday.
Meanwhile, Chipotle said it accepts digital currency, including cryptocurrency, nationwide through a partnership with Flexa.
- Through a Flexa-enable app, Chipotle customers can use 98 different digital currencies, including Bitcoin, Ethereum, Avalanche, Solana and Dogecoin to pay for their burritos.
What they’re saying: “We will continue to leverage crypto to connect with new and existing Chipotle fans,” said Curt Garner, the chain’s chief technology officer, said in a statement shared with Axios.
Between the lines: Cryptocurrency prizes will be purchased at the market value on the date that each cryptocurrency prize is fulfilled, Chipotle said in the promotion’s fine print.
- Prizes will be deposited into each verified winner’s Coinbase account.
- A Coinbase account is required to claim a cryptocurrency prize, according to the fine print.
Flashback: Chipotle became the first U.S. restaurant chain to launch a cryptocurrency giveaway through its “Burritos or Bitcoin” Burrito Day promotion in April 2021, the company said.
Chipotle Buy the Dip game
Chipotle’s game will be open from 10 a.m. to 6 p.m. PT each day through July 31 and players will get three chances to win a day.
- How it works: Go to the game site and click “Play Buy The Dip” where you will be prompted to sign in to your Chipotle Rewards account or create a loyalty account.
- During the game hours, players will reach a “How To Play” screen that provides instructions for the “Buy The Dip” game and can start the game by clicking “Play Now.”
- Players will hit “START” to make the crypto line chart move and then click “BUY THE DIP” for a chance to win free crypto, 1-cent guac, or 1-cent Queso Blanco.
- If players win a prize, they will have 15 seconds to “CLAIM” it or “SWAP” it for a chance at a different prize. If players don’t win a prize, they can click “TRY AGAIN” for another chance.
Chipotle Avocado Day deal: Guac promo code
Chipotle also has a National Avocado Day deal for its Chipotle Rewards members on its website or app Sunday.
Details: With the purchase of any regular entrée, get a side or guac topping on the entrée for a penny with promo code AVO2022 at digital checkout.
- The offer is only valid July 31 during normal business hours and limited to one per transaction, while supplies last.
- It’s not available in restaurants or on orders via third-party delivery platforms.