Published January 26, 2017
Generation Z or otherwise known as millennials are made up of 82 million Americans.. They have a large purchasing power and a fifth of that money goes towards food. With this large population, they are influencing and shaping the restaurant industry. To stay competitive and appealing to millennials, these restaurants have to keep up with the latest trends such as social media accounts and splitting bills through digital services such as Venmo. This article illustrates all the different ways Generation X is changing the restaurant industry.
Key Takeaways:
- Generation Z is the cohort of roughly 82 million Americans who were born in 1996 and later, according to the Census Bureau’s 2015 population estimates.
- The youngest generation is shelling out a lot on dining. More than one-fifth of teens’ total budget goes toward food, according to Piper Jaffray’s fall 2016 “Taking Stock With Teens” survey, conducted by analysts at the investment firm.
- Gen Z doesn’t have a lot of patience. Teens prefer limited-service and fast-casual concepts at nearly a 50 percent greater rate than full-service restaurants, according to Piper Jaffray. Starbucks, Chipotle and Chick-fil-A are among Gen Z’s top five brands.
“The youngest generation is shelling out a lot on dining. More than one-fifth of teens’ total budget goes toward food, according to Piper Jaffray’s fall 2016 “Taking Stock With Teens” survey, conducted by analysts at the investment firm.”
http://www.restaurantnews.com/how-new-generation-z-is-shaping-the-restaurant-industry/
Published January 26, 2017
Incorporating technology into restaurants can be difficult without sacrificing personal interaction with staff members. Engaged customers often tend to be more satisfied and there for their loyalty ratings go up. That is the main focus behind deeper analytics in 2017. This creates a large gap. Historically speaking, we are collecting date, but not analyzing it to identify the ideal customer.
Analytics Driving Force Behind Tech Investment for Operators in 2017
Published January 26, 2017
Sonic is a widely-known and renown fast-food chain known for in-car service and drive-thru. However, in 2016, the corporation started to see sluggish numbers, as their first-quarter sales have been seeing declines when compared to the final quarter of 2016. This sluggish growth can be attributed to a variety of reasons, and executives of the company are steady trying to identify the reasons.
Sonic CEO sees ‘sluggish consumer landscape’
Published January 26, 2017
Across the USA many food workers are obtaining certifications to expand their knowledge base. According to Frank Turchan, executive chef at the University of Michigan in Ann Arbor at “We have a lot of cooks that don’t have a formal culinary school training, but are hungry to learn more”. Cafeterias across the country are using these continuing education classes to certified participants on topics such as knife skills, soup and sauce preparation, recipe writing and allergen safety.
Key Takeaways:
- Certifications act as a powerful recruiting and retention tool
- they can also give insight to guests, the community and the industry about an operation’s direction and focus
- Check out the types of accreditation operators are chasing after in 2017.
“Last fall, Kent State University in Kent, Ohio, became one of the nation’s first operations with a certified gluten-free dining hall.”
http://www.foodservicedirector.com/managing-your-business/managing-staff/articles/certifications-should-be-your-radar
How New Generation Z Is Shaping the Restaurant Industry
Generation Z or otherwise known as millennials are made up of 82 million Americans.. They have a large purchasing power and a fifth of that money goes towards food. With this large population, they are influencing and shaping the restaurant industry. To stay competitive and appealing to millennials, these restaurants have to keep up with the latest trends such as social media accounts and splitting bills through digital services such as Venmo. This article illustrates all the different ways Generation X is changing the restaurant industry.
Key Takeaways:
“The youngest generation is shelling out a lot on dining. More than one-fifth of teens’ total budget goes toward food, according to Piper Jaffray’s fall 2016 “Taking Stock With Teens” survey, conducted by analysts at the investment firm.”
http://www.restaurantnews.com/how-new-generation-z-is-shaping-the-restaurant-industry/
Commentary
Comments closed