‘Grey pound’ is king
Foodservice operators can benefit from the UK’s ageing population
A him! survey has found that the 55-64 age group spend more on dinner than any other age group. On average, they spend £16.70 a head, closely followed by the 65+ age group who spend £16.44 and the 45-54 age group who spend £15.42.
Paul Backman, director of services at Horizons, explains why these customers are so valuable, “older demographics typically have larger amounts of disposable income to spend on eating out as they no longer have the financial burdens of families to support, are typically mortgage free and have significant amounts of free time.” He underlines the opportunity they provide to outlets, “retired populations may be willing to visit foodservice establishments outside peak hours, providing opportunities for operators to increase their non-core hour revenues.”