Who are the Millennials and why is it so important to consider them as part of your business strategy?
Millennials, an abbreviation for millennial generation, is a term used by demographers to describe a segment of the population born between 1980 and 2000 (approximately). Sometimes referred to in the media as “Generation Y,” millennials are the children of the post-WWII baby boomer generation. They represent the biggest demographic in living history.
There is an increasing trend toward a global “one world culture” and characteristics that transcend traditional divides. A few attributes to note about Millennials, particularly in South Africa, are:
- Millennials are the last generation born in the 20th century
- The make up nearly a quarter of the South African population – and are growing – estimated to grow at twice the rate of the overall population
- They have plenty of disposable income
- Millennials aspire to social acceptability
- They are brand conscious
- Millennials demand choice and personalised offerings
- Millennials are eager to try new challenges, products and experiences
- They embrace diversity
- Their lives are lifestyle- centred
With the characteristics of Millennials in mind, and if I was a restauranteur, I would be looking for innovative ways to draw them to my restaurant. Today people want choice, quality and diversity. Millenials have money to spend and appreciate quality. One way to offer a quality dining experience is to offer a range of wines, served by the glass, to pair with food on the menu.
The question is how do I do this and manage the waste? The answer is the Le Verre de Vin wine preservation system from the Bermar Collection. With Le Verre de Vin you can instantly expand your range of wine by the glass, create the opportunity to pair wine and food, increase wine- by- the glass sales, eliminate waste and ensure that your wine is in its’ original condition even though the bottle has been open for up to 21 days. Can you afford NOT to have wine preservation in your restaurant?
Have a look at our product range to see which one will suit your needs or contact us on +27 (0)21 788 9788 or at email@example.com and we’ll help you decide which one would be the best fit for you.