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Did You Know?

Millennials as a generation are the second-largest demographic in history, exceeded only by baby boomers. They’re also the most racially and ethnically diverse. Often called Generation Y, the “echo boom” and sometimes Generation Next, demographers differ on the age range that constitutes Millennials. Some include those born since 1977, while others start with 1980 or 1982 and go to 2000 or a year or two beyond. Most researchers have focused on the “first wave” Millennials—those roughly ages 16 to 26.

While observers of this significant group might differ on age range, they all agree that Millennials have huge purchasing power: U.S. teens, alone, last year spent $179 billion. Millennials share a generational personality that covets self-worth and technology, and they thrive on choice and immediate satisfaction.

Operators can market successfully to Millennials by recognizing that today’s youth have more sophisticated taste buds than their parents had at the same age. Unlike their parents when they were younger, Millennials refuse to eat what they don’t like. And the products that appeal most to Millennials not only taste great, but have recognizable brands.