In any case even the savviest of authorities strives to identify what the deciding factors are that influence Millennials and where they choose to spend their dollars when they go out.
Millennials are an essential demographic; standing 90+ million strong, its the largest demographic accessible, by far.
The study of “Millennials” is focused around how purchasers ages 18-30 buy, perceive and choose (much the same as those in diverse demographics). In any case the study shows very different patterns about Millennial expending behavior. Cracking the Millennial buyer code is no easy task, but restaurant executives are willing to invest in the benefits.
The social event oblige marks are:
• Millennials prefer whole, natural foods over enhanced or altered foods.
• Convenient, fast/simple and consistent is a preference.
• They prefer fun and exciting… yet casual and comfortable.
• 55% incline toward shared or communal tables at restaurants.
• 68% percent ask companions before selecting a restaurant.
• 87% percent will go overboard on a meal experience, even when cash is tight.
• 40% percent will try something different each time they visit a restaurant.
• Millennials consume out the most regularly at lunch.
• 30% consume foods that are ensured natural (as contrasted with 21% of Gen X-ers and 15% of Boomers).
• They will spend more on morally sourced meats and farm-to-table meals.
• 80% need to know the story behind their foods and how/where they’re developed or grown.
• When shopping in markets, Millennial foodies spend more on premium fixings and are more prone to choose small batch, high quality lagers and artisanal cheeses than the huge brand names.
• Custom alternatives, for example, the 87,000 conceivable beverage combos that can be had at a solitary Starbucks unit, are seen as a need, not an extravagance.
• It’s simply not about nourishment for Millennials. They see food and dining as excitement and an expression of oneself.
On the other hand, moderateness is often a worry. When asked what is most important when selecting a brand, generally speaking, the top-scoring attribute seemed to be “A better than average value”.
Consider the statistics and its not hard to see why the fast-casual restaurant segment is the lone restaurant industry group showing noteworthy growth. Whether by fortunes or by design, the fast-casual methodology passes on an extensive parcel of the key parts Millennials say they require.
So, should your restaurant have a particular Millennial method?
If you need help with menu development, design, operations, marketing and branding, management or training, contact TRG Restaurant Consulting at 877-777-6175 or by email at info@TRGrestaurantconsulting.com
