Boomers feeding restaurant creativity
Posted On August 6, 2013
For years, economists and generational experts have been talking about the business impact that will come as Baby Boomers retire in droves. Entire industries have emerged to handle the needs of this enormous generation as it ages out of the work world and into some semblance of retirement – be that semi-retired or active senior living or long term care. But Boomers are affecting established industries as well.
A recent story on NBC News highlights how restaurateurs are catering to the Boomer clientele. When we think of restaurants and other B2C business, the trends have historically shifted toward the youth. What is up-and-coming? How can we attract young adults with their fresh paychecks and establish them as loyal customers for life?
Turns out the older generations are tired of the kitchen while the younger ones are just learning to appreciate the simple life, so the target audience changes. With Boomers holding the bulk of the purchasing power in America today, however, it seems more and more restaurants are shifting gears and considering how to appeal to more sophisticated – or simply older – tastes. This blogger, however, seems to think that Gen X should be getting some extra TLC.
What generational stereotypes or habits are you holding onto? Are they getting in the way of opportunity? Think about it.Categories: Baby Boomers, Blog, Work