Advertising Age reports that McDonald's, in an internal memo, essentially concedes that it does not have a message and menu that appeals to millennials, a demographic group that is described by the company as both "huge and influential" (59 million strong) and valuing "choice and customization."
The memo, as quoted by Ad Age suggests that the company's new McWrap sandwich was introduced as a way of attracting that audience because it "affords us the platform for customization and variety that our millennial customer is expecting of us."
And, because McDonald's also refers to the McWrap as a "Subway buster," it is clear which chain it sees as being most competitive for the Millennial generation's fast food dollar.
Ad Age quotes Gary Stibel of New England Consulting Group as saying that one of the reasons it is critical to grab the Millennial generation is that they will influence following generations: "Mr. Stibel said there are three reasons reaching young adults is important, two of which are not new: Marketers want to reach young consumers as they start earning more money and forming families, and younger generations have been the source for trends in fashion and food. But the third reason -- the new one -- is that older consumers are increasingly learning from their children, such as how to use apps on smartphones."
The memo, as quoted by Ad Age suggests that the company's new McWrap sandwich was introduced as a way of attracting that audience because it "affords us the platform for customization and variety that our millennial customer is expecting of us."
And, because McDonald's also refers to the McWrap as a "Subway buster," it is clear which chain it sees as being most competitive for the Millennial generation's fast food dollar.
Ad Age quotes Gary Stibel of New England Consulting Group as saying that one of the reasons it is critical to grab the Millennial generation is that they will influence following generations: "Mr. Stibel said there are three reasons reaching young adults is important, two of which are not new: Marketers want to reach young consumers as they start earning more money and forming families, and younger generations have been the source for trends in fashion and food. But the third reason -- the new one -- is that older consumers are increasingly learning from their children, such as how to use apps on smartphones."
- KC's View:
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So here's my question...
How many traditional retailers are in fact facing the same test of their relevance that McDonald's is with the Millennial generation, but don't know it or are not rethinking their businesses despite the threat?
