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Restaurant Daily News 4 3 Saturday, May 20, 2017 BABY BOOMERS STILL DRIVING THE AMERICAN ECONOMY By Lorrie Baumann If you're a retailer looking for more dough, you should follow the Baby Boomers, because they've got the bread. Welcome to the longevity economy, in which Baby Boomers may be outnum- bered by Millennials, but they're living longer than their parents, and they've still got most of the U.S.'s wealth to spend, according to market researcher Marsha Everton, a Principal in AIMSights, an international marketing company study- ing the intergenerational dynamics of the Baby Boomer and Millennial genera- tions. She and AIMSights Millennial Associate Whitney Ryan made her point during an address during this year's International Home + Housewares Show, held in Chicago in March. The number of adults between ages 20 and 49 – the Millennial Generation – is now 56 percent of the American popu- lation and it's still growing due to immi- gration into this country, which is pre- cisely why this generation is of such deep interest to marketers, who are spending about 90 percent of their advertising dol- lars courting Millennials' purchases, according to Everton. It's the generation that's been all but abandoned by the marketers, though – the Baby Boomers – that still has a dis- proportionate share of the nation's pur- chasing power. While the Millennials now outnumber their parents, the Baby Boomers still have 70 percent of the nation's disposable income and 83 per- cent of total wealth, according to Everton. "That presents a big opportuni- ty," she said. Those who want to capture a share of Baby Boomers' spending are well advised to understand where Baby Boomers are in their life stage, according to Everton and Ryan. Baby Boomers are at the age at which previous generations of Americans are retiring or preparing to retire. Baby Boomers, by contrast, are holding onto their places in the American labor force with every breath in their aging bodies. More than half of them are still employed. "This is not a group that's settling into retirement," Ryan said. "They are still very active in the work force." Adults over 50 currently make up a third of the American work force, and this percentage is increasing. "This group is the only one with a rising labor force participation," Ryan said, adding that 40 percent of the workers who are more than 65 years old are holding down full-time positions. It's a myth that workers who are more than 50 years old who become unemployed for one reason or another are never coming back into the workforce, and the reality is that 40 percent of peo- ple who take a break are back in the workforce within two years – 60 percent of them in a new career, according to Ryan. They're certainly not moving into retirement homes – they're simplifying their lives and they're kicking off their uncomfortable high heels, but they're not necessarily downsizing. "They're tidying up and decluttering," Ryan said. "Boomers really are getting rid of every- thing that's not serving them." They're looking for products that bring them joy and that earn their space. It's also a myth that Baby Boomers are holding onto their jobs because they're saving for their retirement. The reality is that it's more likely to be fear of boredom than lack of money that's send- ing them to work each morning. "Boomers are making a choice to stay in the work force," Ryan said. "They're not doing it out of financial necessity." Baby Boomers are quite likely to stay in the work force – or to reenter it – by starting their own business. In 2015, a quarter of new businesses in the U.S. were started by Millennials, but Baby Boomers ages 45 to 64 form businesses at a higher rate than other age groups. Those aged from 55 to 64 years old start new businesses at the highest rate of any age group, according to the California Association of Business Brokers, a trade association that sees profit potential in helping Baby Boomers buy and sell those businesses. Baby Boomers are feeling the loss of their economic safety net as the nation's economy has trans- formed, and they're seeing ownership of their own business as a greater source of economic security than employment in a large corporation, according to the asso- ciation. The Baby Boomers' startups are more likely to be successful than the businesses started by Millennials: 70 per- cent of startups founded by adults over 50 last longer then three years, compared to only 20 percent for entrepreneurs who start their businesses when they're younger than 50. Baby Boomers are also more comfortable with technology than many people give them credit for: 74 per- cent of Baby Boomers have a smart phone and 82 percent belong to at least one social media site. Baby Boomers are also focused on health and wellness, and they're driving this trend, according to Ryan. "They are leading the trend toward natural foods and 'healthy-ish' eating," she said. "They eat to live and live to eat. Food must taste good in addition to being good for you." It's the Baby Boomers who are driving the demand for ingredients with recog- nizable names, minimally processed and locally sourced food and for tools to pre- pare the food at home, she said. For retailers, what this means is that they should be smart about the Baby Boomers and budget marketing dollars to appeal to the consumers who are still out- spending every other generation. They should make sure that they're spending some of those dollars on online media, since most shoppers who access a web- site while they're in a store are actually looking at that store's website because they're seeking more information about the products in front of them, Everton said. "Baby Boomers are looking for products that will work in a simplified space – their filters are different, and that's what's defining their decisions," she said. Baby Boomers love products that are customized, since customization appeals to Baby Boomers' sense that they're spe- cial. They love products that offer more than good looks. "They love sustainabili- ty," Everton said. "They're updating tra- ditional looks." Email is still the best way to reach out to Baby Boomers, and Facebook is the social platform that reaches Baby Boomers, Everton advised. She noted that, "What you really need to do is to get people to talk to each other, so tell them stories – and then listen to them, so that you have those stories to tell." CALI'FLOUR FOODS INTRODUCES VEGAN CAULIFLOWER PIZZA CRUST Cali'flour Foods is now offering a plant- based, vegan cauliflower pizza crust. The new crusts are fresh, straight from farm ingredients, and are fully-baked. Far more than just pizza, the crusts have been used for sandwiches, quiche, taco shells, and more. The company's product is growing in popularity and recently won the Clean Choice Award in "Top 5 Coolest New Finds of 2017." Cali'flour Foods offers three different kinds of crusts. The first is the Original Italian Cauliflower Pizza Crust, which is made of a proprietary blend of cauliflower, cheese, eggs, and spices. The second is the Sweet Red Pepper Cauliflower Pizza Crust. Both are gluten free with six vegetable car- bohydrates and only 180 calories for the entire crust. The company's newest option is the Plant-Based Italian Cauliflower Pizza Crust, which is 100 percent plant-based and contains no eggs or dairy. The cauliflower pizza crusts are available at local retailers in California and on the company's website with nationwide shipping. CHOBANI AD CAMPAIGN TO PORTRAY FOOD AS A FORCE FOR GOOD Yogurt company Chobani LLC is releas- ing a new advertising spot about food bringing us all together that's part of a campaign planned to run throughout 2017 and beyond. "Chobani has always been a differ- ent kind of company, putting people first—from our employees to our com- munities to our farmers and fans," said Peter McGuinness, Chief Marketing and Brand Officer. "We believe that when a company stands for something even big- ger than its products, it has the ability to bring people together and be a positive force for good. There's a lot of goodness that goes into every cup, and we wanted to tell the story of the people who make our delicious, nutritious products." The campaign's first advertisement is a spot titled "Fruit Symphony," featur- ing Chobani's employees alongside musicians and vocalists singing "What the World Needs Now is Love." Directed by Academy Award-win- ning filmmaker and screenwriter Michel Gondry, the spot pairs vocals with uncon- ventional technology – literally harness- ing fruit into instruments, like banana pianos and coconut drums. That's intend- ed to symbolize real fruit, real people and nothing artificial, characteristics identi- fied with Chobani products. Six employ- ees from Chobani's North American fac- tories, with roots ranging from Chobani's local communities in upstate New York and Twin Falls, Idaho, to India and Thailand, were selected from an all- employee open casting call. The full breadth of the campaign will include broadcast, digital, public relations and social elements throughout 2017 and beyond. CUBAN MOJO SAUCE FROM STONEWALL KITCHEN The Canary Islands near Morocco are credited as the place of origin for mojo [MOH-hoh] sauce, and it's said that every family has its own unique recipe. As portions of the population immigrated to the Caribbean, mojo sauces became popular in Cuba and throughout the islands of that region. Specialty food cre- ator Stonewall Kitchen has explored this fabled sauce and created its own deli- cious and versatile variety, and aptly named it Cuban Mojo Sauce. Building on the traditional combi- nations of garlic, olive oil and citrus, Stonewall Kitchen's Cuban Mojo Sauce also includes flavorful aji pep- pers from Peru, brown sugar, spices and the juices of both lemons and limes. The result is a unique and interesting sauce that's not too hot or overly spicy, with a clean, tart fruitiness that's per- fect for shrimp, tuna steaks or adding great flavor to fish tacos. Used as a marinade or to baste, this light, crisp sauce is truly enjoyable and opens up a variety of exciting menu options. For more information, call 800.826.1752 or visit www.stonewall kitchen.com.