Generational Consumer Trend Report Uncovers Shifting Lifestyles, Wants, and Needs
Just when you thought you understood your customers, they change. A new report finds that older Gen Zers are now beginning college, Millennials are starting families, Gen Xers are increasingly becoming empty nesters, and more Baby Boomers retire each day. All of this is having a significant impact on the foodservice and restaurant industry, according to Technomic's 2018 Generational Consumer Trend Report.
The new report reveals the similarities, differences, and evolutions within each generation and how brands can leverage these findings to drive growth and stay ahead.
"It's interesting to see where generations align and where there are stark differences. Across all ages, consumers are more willing to pay a higher price for items described as fresh, scratch-made, and real," explains Anne Mills, senior manager of consumer insights at Technomic. "In terms of differences, Millennials are choosier parents than other generations have been and want all natural, organic foods for themselves as well as their kids. In older generations such as Baby Boomers, on the other hand, we are seeing a very slight decline in foodservice visits, but interest in prepared foods, opening up opportunities for grocery and convenience stores."
Two Key Findings from the Report:
- Percent of consumers who have no choice but to eat meals on the run: Gen Z: 31%; Millennials: 39%; Gen X: 26%; Baby Boomers: 19%
- Percent of consumers who look up restaurant menus online: Gen Z: 61%; Millennials: 65%; Gen X: 48%; Baby Boomers: 32%
Compiling findings from more than 1,450 consumer responses, as well as menu and industry data from the Ignite database, the 2018 Generational Consumer Trend Report serves as a guide for foodservice operators and suppliers to help them better understand how consumer usage, attitudes, and preferences change depending on the generation, along with how the generations themselves are evolving.
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