Report: Millennials Will Influence Foodservice Sales

CHICAGOA new report from Technomic examining generational attitudes toward foodservice reveals 50% of Millennials have a positive outlook on the future and are expected to increase spending on foodservice within the next year compared to only 21% of all consumers surveyed. In order to win consumers foodservice dollars, operators and suppliers need to consider attitude and lifestyle differences by generation, particularly as this translates into their foodservice needs, preferences and expectations.

As Millennials begin to shift into new life stages, it is vital for restaurant chains to stay on top of their changing needs and preferences, particularly in the areas of health and wellness, quality and value," said Director of Consumer Research Sara Monnette. Millennials are a critical consumer group to the foodservice 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."

According to The Generational Consumer Trend Report," although Millennials earn a lower income than older consumers, a greater percentage of Millennials (42%) than Gen Xers (33%) and Boomers (24%) report visiting upscale casual-dining restaurants at least once a month. Of all generations, Millennials (43%) are most influenced by coupons and discounts when choosing a restaurant.

Interestingly, 32% of Millennials and 26% of Gen Xers say they are overwhelmed by their daily responsibilities and indicate that they do not have time to cook at home as often as they would like. Only 13% of Boomers are in agreement. When asked How often do you choose restaurants based on the healthfulness of their menu?" 31% of Millennials chose either often" or very often" compared to only 21% of Gen Xers and 18% of Boomers.