We’ve been talking about millennials—what makes them tick, what they like and don’t like, how they think and behave—for years now. But the latest Cassandra Report from Deep Focus has heralded a new generation of consumers ready to make their mark: Enter Generation Z.
Gen Z, a population currently aged 7 to 17, holds more influence than you might expect. In fact, the report indicates that 93 percent of household spending decisions are influenced by them. If you find that surprising, you’re not alone.
Did you know that Hispanic customers account for $1 out of every $5 spent in the quick-service restaurant sector? That’s why restaurants like Jack-in-the-Box are starting to get smart about targeting this large and growing demographic.
According to anthropologists, Western society was built on wheat and beef, so it’s really no surprise that burgers have become a defining aspect of American cuisine. As a country, we eat more meat than any other in the world.
Burger concepts are perhaps the most well-known type of quick-service restaurant in the U.S.. From McDonald’s to Burger King to Wendy’s, the old guard of fast food has staked their claim around the beef patty.
Big restaurants aren’t seeing the kind of growth they’re accustomed to lately. The reason may be because consumers are more interested in their smaller, more nimble brethren. But, as usual, pinpointing the exact reasons is complicated.
In 2015, Millennials (defined as those currently aged 18 to 34) are expected to overtake Baby Boomers for the first time, reaching 75.3 million, according to Pew Research. Already, they make up about a quarter of the U.S. population.
This generation has around $1.3 trillion in spending power. In the year ending in June 2014, Millennials spent $95 billion at restaurants. While the recession hit Millennials harder than many other generations, they still eat out more than other cohorts, purchasing 36 percent of their meals away from home, compared to 31 percent for Generation X and 26 percent for Baby Boomers. So it’s really no wonder restaurants see them as a key demographic to target.
A new study just came out that argues low-paying jobs, rather than unemployment, are the driving factor behind an over-reliance on government assistance programs like Medicaid and food stamps.
The study uncovered that 56 percent of state and federal dollars spent in the years between 2009 and 2011 actually went to people who were employed in low-wage jobs. In certain industries, around half of workforce participants are relying on welfare to make ends meet.
Wednesday of this week McDonald’s decided to announce a hike in their wages this week, but only by around $1, causing an outcry from various corners of the internet. McDonald’s was under pressure from several outside groups to raise wages, but their move doesn’t seem to be enough to soothe complaints.
Wages are rising throughout the restaurant industry, as we’ve mentioned before, though Congress has done little to mandate these increases. And it’s likely the labor competition will continue to drive up wages, since job growth in this area is steady.
Looking to bring in new customers or convert infrequent visitors into loyal patrons? Using promotions strategically can help you achieve this.
The right promotions used at the right time can get more people in the door and keep them coming back. But knowing what type of promotion to use to achieve which goals is the key to success—and it can prove tricky.
Have you seen anyone walking down the street in the last week with a Starbucks cup that looked a little more celebratory than usual? The “birthday cake Frappuccino,” was vanilla bean and hazelnut flavored, with a layer of pink-tinted, raspberry whipped cream on top.
The drink was designed to celebrate the 20th birthday of the iconic frozen beverage. In response to the milestone, Starbucks wrote,