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The 2016 Pizza Power Report:

A state-of-the-industry analysis

Shifting demographics and cultural changes will require bold new strategies for pizzeria operators in 2016.

RICK HYNUM

Millennials: A Generation of Foodies

What’s a Millennial, Anyway?

Millennials are unlike any generation before them. At least, that’s what marketing professionals have been telling us for years now, and they may be right. But what they can’t seem to tell us for sure is, exactly what is a millennial? In their study, Pizza Lovers in 2015, quoted throughout this year’s Pizza Power Report, Smart Flour Foods and the Center for Generational Kinetics describe millennials as the generation born between 1977 and 1995. Research firm Technomic has a slightly different definition—those born between 1977 and 1992. Another research firm, Mintel, simply says millennials “are between the ages of 21 and 38,” which comes out to a birth date range of 1997 to 1994.

He’s a foodie, she’s a foodie, you’re a foodie, I’m a foodie—an ever-growing love of good food may be the one thing Americans have in common these days, and that bodes well for the pizza industry. A 2013 study by advertising firm BBDO found that nearly 50% of millennials call themselves “foodies.” Members of this fast-rising generation don’t just eat their food—they engage and connect with it, seeking out new, more intense flavors, extreme textures, and ethnic and artisan dishes. They experience it and then record that experience with a snapshot on their smartphones and a quick post to Instagram.

Of course, millennials don’t have the foodie market cornered; they share it with baby boomers, many of whom also self-identify as foodies. But millennials are poised to take over the world: They already comprise more than half of the labor market and will likely start outspending baby boomers in the next several years. According to Mintel, millennials are projected to account for 30% of all U.S. retail sales by 2020. In short, every pizzeria operator needs to keep this customer demographic in mind if he wants to grow his business. “The tidal wave of 80 million millennials now entering the U.S. pizza market has created a host of new challenges and opportunities,” notes the Smart Flour Foods study. Millennials have their own way of making purchasing decisions and ordering pizza—they rely on their smartphones, often don’t carry cash, and have “the least established brand loyalty” of any generation today. But they’re not necessarily disloyal, the study’s authors conclude. “Millennials are hugely loyal to brands and restaurants to which they feel a connection, but many millennials simply haven’t established that loyalty yet.”

That’s in part because many millennials feel suspicious of corporate brands and place a high premium on authenticity. This means independent pizzerias that emphasize their hometown roots and owner-driven personalities may have an advantage in competing for millennials’ spending dollars. But to get their attention, you will have to move beyond traditional print advertising and direct mail and incorporate online ordering, the latest social media platforms (not just Facebook, which has faded with the younger crowd) and mobile technologies into your marketing plan. The Smart Flour Foods study reports that nearly ⅓ of millennials “use online advertising, social media and online ratings to gain pizza information versus less than 20% for those 35 and over.”

54% of millennials have taken a photo of their pizza and posted it online.

#topeka - Topeka Kansas

From: Molly Howey [mailto:mhowey@topekachamber.org]
Sent: Friday, July 7, 2017 12:06 PM
Subject: Project Post Oak

Hello,

I have a client looking for the following criteria. Please send me any fliers for property that matches by Wednesday, July 12 at 9 a.m.

Real Estate Requirements

• Company is looking for an existing, approximately 100,000 SF manufacturing / distribution facility on approximately 10-15 acres.

OR

• A 10 – 15 acre greenfield site with close proximity to Interstate 35 (see notes from above).  

• Client is heavily focused on locations in a Severely Distresses NMTC census tract or in communities that have the ability to offset this valuable federal incentive program.  The consultant will handle all aspects of the NMTC transaction for their client in the selected community. 

• While rail is not required it could be in the future so real estate options submitted with this asset could be an added plus.

• Real Estate options need to be less than 3 – 5 miles  from the interstate with access to I-35.

Thank you,

Molly Howey, CEcD Senior VP, Economic Development mhowey@gotopeka.com Office: 785.234.2644 / Cell: 785.231.4707 120 SE Sixth Avenue, Suite 110 Topeka, KS 66603