Millennials have been increasingly under the microscope. Marketers from every industry want to know how to appeal to this increasingly influential and baffling demographic of people born between roughly 1982 and 2002. These young people represent more than 80 million people (larger than a quarter of the U.S. population); the largest generation in the entire world. They’re also the first generation (ever!) to spend more money dining out than on groceries. Each year brings even more of these customers to your tap or table. Here is how to lure them in and keep their interest.
Millennials just can’t get enough technology
If you haven’t noticed, this is the most wired generation yet. Millennials are 2.5 times more likely to be early adopters of technology (que Uncorkd). If one of these consumers has a question, and an answer isn’t readily available (without having to communicate with another person, of course) more than 55% will abandon the purchase. The solution to selling to this demographic is allowing them to explore your menu in a way that offers extreme clarity, putting the reader in complete control. Millennials prefer self-serving, but still want to make educated purchasing decisions. Mobile devices are their platform of choice, tablets count.
What young adults are actually spending money on
This generation has completely unique spending habits. The automobile and housing markets are boggled by these young people because millennials just aren’t buying large ticket items. Fortunately, what these 20-somethings are spending their money on is dining out and getting drinks. Ever heard the saying “no one cooks in New York”? New York city happens to be one of those places where most young people don’t drive or own property. Lucky for bars and restaurants everywhere, this trend is on the rise in cities across the nation; leaving those whippersnappers with excess money to spend in the immediate future… at your table.
Exactly what these young people like to drink
Fortunately, we also know what these illusive youngsters are drinking. They are taking the wine industry by storm! They’re drinking more wine than previous generations immediately after turning 21 and they like it sweet (hello, spring wines!). They also just can’t get enough of craft beer (yet another reason to integrate craft brews into your bar program). These young people just prefer indie brews over the typical big-brands of their parents. But, they’re more frugal when it comes to spending on beer versus wine. These young folks also prioritize variety; they’re the most likely generation to try a new drink or new flavors.
Winning over millennials is as easy as understanding their tastes and preferences. Don’t believe any myths about a lack of brand loyalty. Use this knowledge to help you win over young guests for years to come. Afterall, this generation has the potential to be your customers for more time than any other.
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