Millennials made approximately 13 billion of the 59 billion visits made to food service establishments in 2010, where they spent $73 billion dollars.
Austin, TX (PRWEB) January 16, 2013
Millennials’ Power over the Food Industry
Who Are the Millennials?
Millennials were born between the years of 1981 and 2000. They also are known as Generation Y. Digital media such as Facebook, YouTube, Google and Wikipedia are everyday parts of Millennials’ lives. Many are full-time or part-time students, others are young adults in the workplace and some are still trying to find their place.
What Factors do Millennials Influence for the Food Industry?
According to NPD Group Millenial Research:
-There are currently 52 million Millennials ages 18 to 29, which will increase throughout the next 10 years, an increase particularly driven by immigration.
-Millennials made approximately 13 billion of the 59 billion visits made to food service establishments in 2010, where they spent $73 billion dollars.
-Millennials spend more than half of their food service dollars on ordering food for take out.
-Millennials spend a higher percent of their total food service dollars than other generations on snacks and have a higher order incidence of snack food items such as ice cream, nuggets and mini sandwiches.
What Trends are Millennials Influencing?
Millennials are influencing the new trend of healthy and hyper-conscious eating. Many colleges are now surrounding by grocery stores such as Whole Foods and Trader Joe's. These grocery stores include healthy meal options, such as salad bars, hot meal bars and sandwich stations for on-the-go Millennials. The grocery stores also usually offer local produce and meats to fulfill Millennials’ desire to be conscious of what they are eating and to stay healthy and fit.
According to Pizza Market Place, there are a few other trends Millennials are influencing: eating meatless or vegetarian options, participating in vegan or raw diets, consuming a lot of fruits and vegetables, eating Asian cuisine, and eating familiar comfort foods such as Italian and Mexican food.
How a Business Can Benefit from Eating Habits
Because many Millennials are college-aged, late-night eating is a huge part of their lives. Research from food ordering service GrubHub shows that when it comes to daily order volume, nocturnal orders placed on college campuses outpace national averages by up to 70 percent. Food service businesses can benefit by taking advantage of these late night hours and extending their business hours to accommodate the Millennials. And that’s just deliveries! There are also many establishments near universities who benefit extremely from staying open late and accommodating hungry students looking for a snack after a late night out.
Study Breaks College Media provides a one-stop solution for small businesses, providing them with big marketing strategies and delivering college students.
Study Breaks magazin e is an award-winning line of monthly entertainment magazines for college students with a mission can best be explained through its slogan: We are college life. Published by Shweiki Media Printing Company, it is distributed in five Texas cities (Austin, Houston, San Antonio, San Marcos and Lubbock) and three southeast cities (Athens, GA; Auburn, AL; Columbia, SC). (Studybreaks.com)