Tapping into the Silver Economy: How Aussie Hospo Venues Can Thrive During the Cost of Living Crunch
What's In This Post
Today we're exploring How Aussie Hospo Venues Can Thrive During the Cost of Living Crisis.
The Australian hospitality industry is still doing it tough. With the cost of living crisis biting hard, many Aussie battlers are tightening their belts, and discretionary spending on dining out is often the first to go. But while families and younger folks might be saving their pennies, there's one demographic that's proving surprisingly resilient and still keen to splash a bit of cash: our seniors and retirees.
With stable superannuation income, often paid-off mortgages, and a genuine desire for social connection and a good feed, this 'silver economy' presents a golden opportunity for cafes, restaurants, clubs, and even food trucks looking to keep their tills ringing.
Why Target Our Older Aussies?
Steady Income: Many seniors have reliable income streams from their super, pensions, or investments, making them less susceptible to the immediate pinch of rising costs.
Flexible Hours: They're often free during off-peak times – think mid-morning coffees, leisurely lunches, or early bird dinners – helping you fill those quieter periods.
Loyalty is Key: Treat them right, and they'll become your most loyal regulars, bringing their mates and spreading the word.
Appreciation for Service: They often value good old-fashioned service and a friendly chat, which can set your venue apart.
Word-of-Mouth Warriors: Happy seniors are fantastic advocates, and their recommendations carry a lot of weight in their social circles.
Strategies for Attracting Senior Customers
Optimise Your Service Times:
Early Bird Specials: Roll out attractive dinner deals between, say, 4:30 PM and 6:30 PM. Perfect for those who prefer an earlier meal.
Lunch & Brekkie Boosters: Offer special pricing or combo deals for breakfast and lunch.
Morning Tea Meet-Ups: Consider dedicated senior-friendly morning tea sessions with a cuppa and a scone.
"Quiet Hours": Designate certain off-peak times as quieter periods, reducing loud music or bustling activity for a more relaxed vibe.
Menu Adaptations:
Smaller Portions, Smaller Prices: Offer "seniors' serves" or half-portions of popular dishes at a reduced cost. Less waste, more appeal.
Aussie Classics: Don't forget the comfort food! Think roasts, fish and chips, or a good old parmy.
Easy-to-Read Menus: Use clear, large fonts and good contrast. Maybe even a few laminated copies for easy handling.
Dietary Needs: Be mindful of common dietary requirements like low-salt, gluten-free, or vegetarian options.
Create a Welcoming Environment:
Light & Bright: Ensure good lighting, especially in dining areas and restrooms.
Comfort is King: Provide stable, comfortable chairs with armrests. Avoid wobbly tables!
Easy Access: Make sure entrances are clear, pathways are wide, and restrooms are easily accessible (think ramps, handrails).
Noise Control: Keep background music at a comfortable level – no blaring tunes.
Loyalty Programs & Promotions:
Seniors' Card Discounts: Offer a standard discount for those with an Australian Seniors Card.
Simple Loyalty: A straightforward "buy 9 coffees, get the 10th free" card is often more appealing than complex app-based systems.
Themed Days: Consider a "Seniors' Tuesday" with special deals or activities.
Group Bookings: Offer incentives for social clubs or groups from retirement villages.
Marketing That Connects:
Local Rag & Noticeboards: Advertise in local community newspapers, RSL newsletters, and noticeboards at community centres.
Partnerships: Team up with local retirement villages, aged care facilities, and seniors' clubs for special offers or events.
Word-of-Mouth: Encourage reviews and testimonials. A personal recommendation goes a long way.
Accessible Online Presence: If you have a website, make sure it's easy to navigate on a desktop, and phone numbers are clearly visible for bookings.
Foster Social Connection:
Community Tables: Consider a large table where individuals can sit and chat with others.
Regular Events: Host a weekly trivia night, a classic movie afternoon, or a "meet the chef" session.
Friendly Staff: Encourage your team to have a quick yarn with customers. A bit of genuine conversation can make all the difference.
Sustainable Practices: A Bonus for the Boomers
Many seniors, having lived through different eras, appreciate businesses that show a bit of care for the planet. Highlight your commitment to sustainability:
Eco-Friendly Packaging: If you offer takeaways, showcase your use of compostable or recyclable packaging – like the range from Planet Friendly Packaging!
Waste Reduction: Talk about your efforts to reduce food waste or recycle.
Local Produce: Emphasise if you're sourcing local, seasonal ingredients.
Staff Training: The Human Touch
Patience & Clarity: Train your staff to speak clearly, listen attentively, and be patient.
Know the Menu: Ensure they can confidently answer questions about ingredients and preparation.
Offer Assistance: Be ready to offer a hand with seating, carrying trays, or navigating the venue.
Technology & Tradition: A Balanced Approach
While some seniors are tech-savvy, many still prefer traditional methods.
Payment Options: Always offer EFTPOS and cash.
Booking Flexibility: Provide both online and phone booking options.
Digital & Print: Have both digital menus (if you use them) and easy-to-read printed menus available.
Community Engagement: Becoming a Local Hub
RSLs & Bowls Clubs: These are natural partners for cross-promotion.
Local Events: Sponsor or participate in local seniors' week activities or community fairs.
"The Regulars" Club: Create a sense of belonging for your frequent visitors.
Measuring Your Success
Keep an eye on:
Feedback from your senior customers.
Sales during those off-peak hours you're targeting.
Participation in your loyalty programs.
Any increase in group bookings from senior organisations.
The Cost of Living Crunch: An Opportunity to Shine
The current economic climate is tough, no doubt. But by genuinely understanding and catering to the needs and preferences of Australia's growing senior population, hospitality venues can not only weather the storm but actually thrive. It's about offering a welcoming space, great value, and that quintessential Aussie friendly service that keeps people coming back for more.
Remember: Happy senior customers are often your best publicists, spreading the good word through their networks and helping your business become a true local favourite.
Looking to make your venue more sustainable while appealing to senior customers? Explore our range of eco-friendly packaging solutions at Planet Friendly Packaging – perfect for take-home portions, doggy bags, and all your sustainable takeaway needs.
