TL;DR
Gen Z spends a large percentage of income on eating out, and franchise brands should invest in appealing to this demographic through technology, authenticity, and social responsibility. According to a recent article in Fast Casual, $1 out of every $5 is dedicated to eating out.
Studies show that Gen Z spends a large percentage of income on eating out. According to a recent article in Fast Casual, $1 out of every $5 is dedicated to this experience. Therefore, franchise brands looking to capitalize on this demographic should invest in appealing to the generation.
"There is absolutely no question that understanding Gen Z and making business decisions to attract Gen Z customers and gain their loyalty is critical to succeeding in today’s highly competitive foodservice landscape," said GP PRO VP Alec Frisch.
The article cites the three most important factors as technology, authenticity and social responsibility. Transparency is huge with the demographic, so brand should have a clear and sincere voice. It is also important to Gen Z to support brands with strong values.
In this story
This story was originally published in 1851 Franchise on June 20, 2018. Burnaze summarizes and links to the original reporting.
Read the full story at 1851 FranchiseLiked this? Get the week's franchise news, explained
- Sunday 8 AM ET weekly + a monthly deep dive
- Sections picked for the industries you follow
- Every claim linked to its source. Free.