The business world is completely enamored with Millennials and their eating and shopping habits. It doesn’t matter if it’s Coca-Cola® and McDonalds® trying to reformulate products or Target®, which is planning to offer more organic, natural and gluten-free foods.
Companies are reaching out to Millennials and trying to satisfy their desire to eat healthy, support local stores, and communicate via social media. Also known as Generation Y (or Gen Y), they’re the go-to demographic, surpassing their parents, the Baby Boomer generation.
Jason Dorsey, author of two books on Millennials, recently commented at the 2015 Pizza Expo that Generation Y will outspend Baby Boomers by 2017. He said this year they’ll spend $1.3 trillion. “Millennials are the fastest growing generation in the workplace and marketplace,” he said.
He enthralled pizza operators who came looking for answers on how to not only market to Gen Y, but also how to manage this independent, opinionated and highly self-confident demographic, which is defined by being born 1977–1995.
Dorsey’s comments about Millennials included:
Dorsey also offered some wisdom on how pizza operators should attract Millennials as customers:
Whether your business is hiring Millennials or serving them, you’ll need to adapt to their unique personalities and idiosyncrasies. According to Dorsey, to win over his generation your business needs to focus on “connecting and influencing” and of course, to offer unique, localized products and services.
Let’s see if the Baby Boomer generation can do a better job of selling to Millennials than they did bringing them up.