Research shows that Millennials eat out more than any other generation and have the highest average weekly household expenditures on food and beverages. So for operators who aren't exactly sure who the Millennials are, it makes good business sense to learn.
Also known as Gen Y or Echo Boomers, these consumers actually coined the term Millennials themselves because of their preference not to be closely associated with Gen X, according to Neil Howe and William Strauss, co-authors of "Millennials Rising" (Vintage Books, 2000).
Howe and Strauss use 1982 to 2000 as birth years for this demographic, putting its members in an age range from 6 to 25. One constant among these customers: They have only known a world loaded with technology.
From televisions and personal computers in their bedrooms to portable media devices in their pockets, Millennials are comfortable with technology and can process information up to five times faster than their baby boomer parents, says Dr. Nita Rollins, director of thought leadership at Columbus, Ohio-based marketing firm Resource Interactive.
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