Company finally realized that they can no longer afford to ignore the habits and interests of Millennials with it menu and mobile app.Given the huge amount of business the The Cheesecake Factory Inc. does around the world at its many locations, including its 179 The Cheesecake Factory and 12 Grand Lux Cafe restaurants, it's no surprise that its decision-makers have finally realized that they can no longer afford to ignore the habits and interests of Millennials.
Last week, CEO David Overton announced after the second quarter earnings report that The Cheesecake Factory plans to add a small “Superfoods” selection to its August menu that will include extremely nutritious foods like almonds, blueberries, kale, quinoa and salmon. The selection is designed to complement its low-calorie SkinnyLicious selection and attract both Millennials and others who fit into the "healthy lifestyle" demographic.
Of course, healthy eating isn't the only area that The Cheesecake Factory has decided to target. Millennials are well known for their tech-focus and interest in "convenience" apps, and the company has also decided to engage Millennials and other tech savvy individuals with a brand new app:
Overton didn't reveal much, but Google Play already has the app, known as "CakePay," available for download. CakePay is a Quick Check LTD app that allows people to browse the menu, make selections and pay for their meals at the restaurants with their smartphones. At checkout, a user can split a check and even leave a tip via the app. Reviews of the app to-date have been mostly positive: It has received “4 1/2 stars” on Google Play based on 11 reviews. The only “1 star” complaint came from a user who was angry that the app wasn't set up to work at every restaurant yet. Overton confirmed that all restaurants will be able to handle CakePay transactions some time next year.
Beyond these two announcements, the second quarter report revealed that The Cheesecake Factory's focus is in the right direction. Although the company experienced an overall decline in customers by 0.2 percent, half of the restaurants enjoyed an increase in traffic and there was also a 2.8 percent increase in sales. Second quarter earnings were $529.1 million - a $32.7 million increase over 2014.