Q3 2019 | Houston Retail | Research & Forecast Report

How will restaurants win the affection of Gen Z? | Q3 2019 | Houston Retail Market Report
HOUSTON - Nov. 6, 2019 - PRLog -- Commentary By Hannah Tosch

Retail Trends

As 2019 nears its end, so should the fixation on the millennial, our culture's "buzzword" for the past few years. It is time to shift focus to Generation Z, today's teens and early twentysomethings. Generation Z (born in mid 1990s to early 2000s) will outnumber millennials as of this year, and moving forward will hold the majority of the spending power. As Gen Z moves into college dorms and enters the workforce, how will restaurants fight back against delivery services and win Gen Z's dollar?

It is no secret that the food delivery industry, valued at $1 billion+, is proving to be a threat to the traditional restaurant industry, particularly with Gen Z on the rise. This is a group that has never known the world without technology, iPhones, apps, and the like. For a generation who has grown up with the retail shopping experience at the click of a button, why not do the same for food? Food delivery is not a luxury to this generation as it has been in the past. Further, Gen Z has grown up with this as a norm in situations when parents are not able to prepare or procure food for their children. The solution? UberEats. Favor. Postmates. The fact that UberEats takes... To read the full report, click here: https://www2.colliers.com/en/Research/Houston/Q3-2019-Houston-Retail

Lisa Bridges | Director of Market Research
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Tags:Market Report
Industry:Real Estate
Location:Houston - Texas - United States
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