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…ed on the banking sector, estimated that Millennials’ purchasing power will reach $2.45 trillion next year and $3.38 trillion—more than that of the Baby Boomer generation—by 2018. Longer-term, Millennials seem like too big a demographic for restaurants to ignore. http://restaurant-hospitality.com/eat-beat/what-millennials-crave-restaurants-latest-word…
…y Horton Kitchen. These changes were directly targeted at health-conscious Millennials. Millennials are particularly attractive to convenience stores because they are the best “impulse” buyers, says Lenard. At the same time, Boomers haven’t fully figured out the evolution of convenience stores. “If you’re 50 or over, you still think the convenience store is primarily a gas station,” says Balzer. You may also be interested in “Holiday Stationstores…
…ast sandwiches. In short, innovative breakfast offerings are key in luring Millennials – a point clearly informing more restaurant menus, including Taco Bell’s new breakfast offerings. Also key for restaurants, in particular, is that Millennials are more inclined than any other age group to skip breakfast, and to eat breakfast foods outside of traditional morning breakfast hours. For instance, 16% of Millennials reported eating breakfast items as…
…fied local foods as one of their priorities.” In addition to bringing more millennials into the store, stocking and promoting local products can also benefit the bottom line. “Almost half of those surveyed by Packaged Facts said they are willing to pay up to 10% more for locally grown or produced foods, and almost one in three said they are willing to pay up to 25% more,” Porjes said. http://smartblogs.com/food-and-beverage/2014/12/03/millennial…
…ng a brand that appeals to a generation of hyper-aware consumers. “Because Millennials are so interested and so socially conscious about health, environmental choices, and animal welfare, if better products are available, they’ll come back and they’ll bring their friends,” Hever says. By staying current with the trend toward meat alternatives, Hever says quick serves and fast casuals can remain relevant and retain Millennial customers. “Consumers…
…their mindset. The Restaurant Marketing Labs Team has developed an exciting infographic that highlights restaurant marketing behaviors associated with millennials. http://cuccina.me/understanding-millennials-dining-behavior/…
…ckaged Facts. Snacking frequency increased 47% between 2010 and 2014, with millennials driving both the rise in snacking and the demand for healthier options, according to data compiled by DuPont Nutrition & Health. “Data indicates they are more frequent snackers, and are more likely to be using snacks as meal replacement, thus expecting their snacks to deliver more nutritionally,” said Jean Heggie, Strategic Marketing Leader for DuPont Nutrition…
…d University Foodservice – US – February 2013 2CCD Innovation, “Collegiate Millennials Shape Culinary Trends of Tomorrow,” August 2012 3National Restaurant Association, “Millennial Ethnic Food Demand Influencing Menus,” April 2013 4Y-Pulse, “Top 10 Foodservice Trends on Campus,” 2014 5The Hartman Group, “When Millennials Get the Munchies: How They Differ from Previous Generations,” 2012 6Y-Pulse and The Culinary Visions Panel, Snacking Behavior Tr…
Keep an eye on the post-Millennials, the next important consumer demographic. Generation Z is the next demographic restaurant operators should be targeting. Millennials have apparently had their moment in the spotlight, but recent figures from Technomic suggest these 21- to 36-year-olds are visiting restaurants less frequently and trimming their spending—probably a reflection of settling down and raising families. The 20-and under members of Gen…
…but would decrease among Baby Boomers as their numbers shrink. Meanwhile, Millennials, which NPD defines as people ages 24 to 37, would account for a 7.5-percent increase in fresh food consumption. Generation Z, those ages 23 and younger, would account for 11.1 percent of those occasions. Source: The NPD Group / National Eating Trends® But it’s not all salads and smoothies for younger people. Top fresh foods among Generation Z include carrots, ba…
