How generational changes impact restaurants: report
By Canadian PizzaFeatures Trends gen x gen y gen z generational changes technomic
Lifestyle shifts such as older Gen Zers beginning post-secondary school and millennials starting families are having a significant impact on the foodservice industry, says a new report from research firm Technomic.
Gen Xers are increasingly becoming empty nesters while more and more baby boomers retire each day, Technomic said in a news release.
Technomic’s 2018 Generational Consumer Trend Report highlights the similarities, differences and evolutions within each generation and how restaurants 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,” said 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.”
According to the report, here is how the generations compare on key points:
- Per cent 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%
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