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Millennial Consumers
While the obsession with food spans many
demographics, millennials (those aged 19 to
34) are driving the movement forward. Growing
numbers of millennial consumers are displaying an
evangelical zeal for all things culinary and splurging
on gastronomic experiences and products. “Some
87% of millennials will spend money on a nice
meal even when money is tight,” claims US-based
social media consultancy Thinksplendid. Similarly, a
joint study by global investment bank Jefferies and
international advisory firm Alixpartners predicts
that millennial spending on food for at-home dining
will increase by $50bn each year through 2020.
"Millennials are a critical consumer group to the
food service industry, and finding ways to market
to them can be difficult because they have high
and varied expectations. Earning their dollars
goes deeper than the quality of food,” says Sara
Monnette, director of consumer research at
Chicago-based food consultancy Technomic.
Eating Habits
Millennial consumers display many of the following
eating habits and preferences:
•
Mindful Consumption: Many millennials
are eschewing big-box retailers for farmers’
markets, independent purveyors and even
food raves (illegal pop-up food markets) that
champion local and small-batch produce
and face-to-face community interaction.
The Mount Nelson, a five-star hotel in Cape
Town, enables guests to forage for local
ingredients and have the hotel chef
prepare them.
•
Thrill-Seeker Dining: Novel and personalised
experiences appeal to this market segment.
The IkHa temporary restaurant in the
Netherlands recently allowed customers
to select their choice of Ikea furniture to
populate the space while they dined, as well
as cut their own tablecloth from wallpaper.
German consumer electronics brand Miele’s
pop-up restaurant Steam presents a calorie-
neutral dining experience by offering patrons
a 40-minute workout and vibrating chair
pads with their meal. And UK-based Mexican
restaurant chain Wahaca has recently
debuted a pureed grasshopper dish – topped
with three grasshoppers.
•
Eating and Tweeting: Growing numbers of
millennials broadcast their culinary pursuits
across social media platforms (Instagram,
Pinterest, Twitter) and dedicated recipe-
sharing portals (Foodily, Food52, Yummly)
to show homemaking prowess, in-the-know
status, cultural heritage and creativity. In
response to this modern ritual, NY-based
restaurant Comodo encouraged diners to
help create a visual menu of its dishes on
photo-sharing social network Instagram,
while Swedish food supplier Ask CT Food is
enabling restaurant goers to photograph their
meals in order to receive a recipe to recreate
it at home.
•
Chasing Flavours: Bold, punchy flavours
(bitter, sour, umami) and ‘exotic’ consumables
(seaweed, bubble tea, freekeh, chia) that
pack a healthy punch draw in millennials who
have grown up with ethnically diverse cuisine
at their fingertips.
Wahaca grasshopper dish
©Wahaca
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Consumer Lifestyle
Ask CT Food photo sharing
© Ask CT Food
