Are Baby Boomers the Newest Trend in Restaurants?
So often we talk about the spending power of millennials, who are entering the workforce and have more disposable income for dining out and other experiences. They’re also the generation every good marketer is trying to woo, as they’re going to be consumers for a long time to come. It’s no doubt millennials have a huge influence on the industry. All that being said, we should not discount Baby Boomers. According to a recent report published by Technomic, which gathered data from more than 1,400 consumers, over 50% of people between the ages of 53 and 72 use foodservice on a weekly basis. These are solid customers who still deserve a seat at the table (pun intended). Let’s explore some ways you can market your restaurant to this hungry-as-ever generation.
Baby Boomers have the largest spending power of any generation right now – data tells us there are 76 million of them, after all. They’re also staying in their jobs longer, so a fixed income isn’t something they’re concerned with just yet. But Baby Boomers are most concerned with living a healthy lifestyle and enjoying their free time, so look to add (or expand upon) your menu’s selection of healthy food options. Stay away from overly trendy language and fad diets though, as these terms don’t translate well to older generations.
Speaking of being overly trendy, another fascinating revelation in the restaurant industry is a shift back to the good old days. Chains like Applebee’s and Chili’s are scrapping the menu items they once added in a push to appeal to Millennials, favoring instead the more familiar food choices that put them on the map originally.
Another interesting thing to note is just how much older Americans appreciate breakfast. Business Insider found that if you’re 65 and older, you’re more likely to prioritize breakfast. If you aren’t open for business early in the morning, consider the market share of consumers you could capture by offering The Most Important Meal of the Day.
Baby Boomers are loyal—very loyal. And it’s hard to win them over. They are sticklers for manners (some might say “old fashioned”), which makes it all the more important to train your staff on how to speak to this demographic. They should be polite, mind their P’s and Q’s, and most importantly, respect their elders. Of course it’s true that every age guest should be treated with respect, but the Baby Boomer generation is more sensitive to these behaviors. And keeping in mind their fierce loyalty, you can bank on repeat business if your staff treats them well.
If you’re interested in a marketing revamp to charm the Baby Boomers, it’s important to have the cash on hand to make that investment. Visit ARF Financial and have a look at our loan products. Our expert loan consultants are here to provide you with personalized advice on your marketing plan, and we offer approvals in as little as 48 hours, with funding in 3-5 days. Let’s get started!