Baby boomers, those born between 1946 and 1965, make up approximately 27% of the adult population. Each day, 10,000 people in this generation are reaching the traditional retirement age (65), but many are working well beyond that cutoff. Boomers control an estimated 70% of disposable income in the U.S., providing them enormous spending power. As they age, they are buying fewer products and are spending more on healthcare and services such as dining out, travel and entertainment.
Value is more important to boomers than to other generations. Although they have a significantly higher disposable income than other generations, they want to ensure they are spending money wisely as they move intoretirement. Low prices and convenient locations are strong foodservice drivers among boomers. A convenient location is slightly more important to boomers than to other generations, as they likely don’t want to travel as far for a meal. Boomers also expect more variety at LSRs than other generations do.
Here are some ways for your operation to appeal to boomers:
- To build interest, consider offering new flavor and cuisines and expanding the availability of fresh and healthy options.
- Offer customized meals with options for small portions available throughout the day. A la carte and on-demand service appeals to preferences for fresh and specialized.
- Boomers use technology for convenience, just like younger generations, bu responding to their unique technology needs, with the use of larger fonts and simpler functionality.
Entegra Procurement Services regularly publishes blog posts on food trends and innovations in food services. Entegra is more than a group purchasing organization (GPO): Our team of procurement specialists implement strategic sourcing to bring the most value to your business. We help our clients, in many segments ranging from the healthcare supply chain to restaurant supply, to cut costs and consolidate their portfolios.