Foodservice Brief — February 2015
To strengthen a chain’s share in the marketplace among Millennials, creative efforts must be applied to build appeal. We know that despite the financial pressures being felt by many within this age group, there’s more to foodservice growth than simply relying on the economic and employment numbers to improve. Millennials may be more mindful of the dollars they spend compared to other generational groups, but they still choose to eat out. And yes, they are price conscious. But appealing to Millennials must go beyond the price they pay for a restaurant meal.
What Value Means to Millennials — Beyond Price
Excluding price, perceived quality is one of the most important attributes that influence Millennials’ foodservice choices. Quality directly relates to value. For Millennials, quality has different meanings. One meaning is consistency in quality and taste. Like everybody else, Millennials don’t want to be disappointed when they go out to eat. They seek consistent quality across menu items (and consistent quality of service) every time they visit. Millennials want to know the item they order will taste the same every time they order it.
Another attribute related to value in Millennials’ minds is quantity. It’s particularly important to younger Millennials (ages 18 to 24). Compared to older Millennials (ages 25 to 34), younger Millennials are more apt to look for shareable or large-sized entrées.
How can foodservice operators improve their odds with this more discerning generation? Our recently released report,Encouraging More Visits from Millennials, shares insights on Millennials’ wants and needs and suggests strategies for increasing their visits. It also breaks out details related to younger and older Millennials to present a clear sense of what sets these two subgroups apart.
The report includes:
- An overview of Millennials’ restaurant use
- What’s happening at home with Millennials
- Improving Millennials’ price perceptions
- Helping them eat healthier
- Attracting Millennial parties with kids
- Enticing Millennials to try new menu items
Millennials have shared with us many insights about what will bring them back to restaurants more often. Clearly, it is not easy to fulfill all of their wants. But the more restaurant operators and their supplier partners understand Millennials’ expectations when they go out to eat, the more successful they will be on delivering against those expectations. Arming your company with this knowledge will make it easier to build loyalty among this very important group of customers for years to come.
To learn more about this research, contact your NPD representative, call Bonnie Riggs at 847-692-1767, or email firstname.lastname@example.org.