Millennials are a special kind of consumer and we need to pay attention to them. Who are they? Just in case you haven’t watched the news in a decade, this is the generation born between 1980 and 2000. It is estimated that as soon as next year (like, right now) they will be the masters of the Consumer Industry. So much so, they will represent 50% of total consumption. This of course means that for businesses looking to stay in the game, understanding this capricious breed must become a priority. We say capricious because Millennials are not known for their sunny disposition or being easy to deal with. These are digital animals, egocentric and hungry for access to all kinds of goods and services. Their world is without borders.
These consumers were born in a time where change is constant and technology won’t stop progressing. That is why they have more access to information and offers, and they become that much more demanding. Before, someone had to settle for whatever was available at their local grocer’s. This new generation is much more hard to please. Millennials are bigger and better. They know that if they can’t find what they want in Mexico, all they have to do is get online and look for it in Japan. This results in exponential expansion of competition. The generation that is going to take over the Consumer Industry wants to try new things, exotic and different, especially when it comes to F&B.
Let’s not forget that millennials are digital animals. The first and last thing they see during waking hours is a screen, which is why the virtual world and the real world are only two sides of the same coin. This is a game changer when it comes to F&B. The strategies of yesteryear no longer surprise them or get their attention. You’ve got to learn how to get to them, and it just so happens that we’re awesome at it. They do not want services en masse because, hint hint, they’re egocentric and think they’re special. They like feeling like they’re the cat’s pajamas and always on fleek. “By the time everyone else catches on I’m not into it anymore” is typical millennial rationale. Which is why, when its F&B we’re talking about, you want to provide experiences that begin before arriving, so that they’ll remember to want to come back. Experiences designed for each consumer occasion and individually tailored. Say goodbye to “speaking to the crowds”, and hello to personalized attention, innovative and unconventional.
In addition to being digital animals, millennials are multitaskers. Yes, they can indeed focus on many things at once because they’re constantly being bombarded with advertising, vines, memes, images, videos, etc. Any establishment that does not satisfy these demands will become obsolete, because millennials actually need the stimulation to stay on edge. If they’re not willing to read 140 characters, what makes us think they’re going to be satisfied with the same old products? This generation hates being presented with repetitive experiences. The same old restaurant, with the same old menu, and the same old service, and the same old ambiance, is most definitely not their first or even third choice come Friday night. The consumers want to be shocked into feeling with every consumption experience, which is why Foodie Markets® are enjoying so much success among this species. They offer the consumer an opportunity to build a unique and original experience every time they go. With Foodie Markets® they have the power of decision in their own hands.
Quick recap: before, the industry was like “this is what there is and if you don’t like it, you can go suck an egg”. Now, millennials are the ones who, hands on hips, demand that the industry acclimates to their preferences. This consumer is forcing brands to adapt to their fancies more so than any other market segment. Like the saying goes, they have the fate of the industry in their hands, so we better fill those hands with fresh and unforgettable experiences. This new consumer’s access to the digital world of information (be it through phones, tablets or laptops) presents us with a new challenge as complex as the network itself, but also so rich in potential that its worth taking it on. At Mero Mole we’re not scared of challenges, we welcome them. We grab them by the lemons and squeeze every last drop of goodness out of them. We know the millennial foodie, and even better, we know how to keep them entertained (wink).
By: The Top Dogs.