Millennials & Their Impact On Foodservice Operators
By Dwayne Reno
Millennials are those born 1980 – 2000 (15-35).
Why are they so important you may ask..? In Canada, the forecasts is 75% of the workforce will be millennials by the year 2028. Millennials currently bring in about 21% of all income earned in Canada, according to Stats Can data. That makes them a force of change with many industries trying frantically to learn more about millennials, how to hire, train, keeping them loyal and their eating habits are some of the things at top of mind for many foodservice operators.
Millennial households spending an average of $2,639 a year on their burgers, pizza, coffee and more in 2013, according to The Food Institute, a food-industry group. That’s 10.6% more than the $2,386 that the average Boomer household spends eating away from home.
These numbers have not gone un-noticed with Taco Bell taking aim at millennials adding beer, wine, sangria and spiked frozen drinks to some store menus as early as September 22, 2015.
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Closer to home Cara Operations LTD. has acquired NYC Fries in a move aimed at marketing to millennials. Known for their success with FSR, Cara LTD. hopes the move will make them a player in the QSR restaurant market. Click here for full article.
Like it or not baby boomers that have sustained the foodservices industry are being over-ran by millennials. This has ignited a change in the foodservices industry that many operators have started to prep for. It’s a good idea to start marketing to millennials if you have not already started. Here are some tips to keep in mind…
Marketing to Millennials
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Dwayne Reno CEO & Founder
Social Chat Blog
Once a month, Building Block Associates serves up some food for thought with our foodservice Social Chat Blog.