According to a new Technomic study, consumers, especially millennials, have a positive outlook on the future, which indicates that they may increase spending on foodservice in the next year. Fifty percent of millennials expect their personal financial situation to improve in the coming year, while only a 21% of all consumers surveyed think their financial situation will worsen over the next year.
A Technomic press release stated that “in order to appeal to consumers and win their foodservice dollars, operators and suppliers need to consider attitude and lifestyle differences by generation, particularly as this translates into their foodservice need states, preferences and expectations.”
Other findings from the The Generational Consumer Trend Report include:
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, 43% of millennials say that coupons and discounts influence where they purchase food.
Thirty-one percent of millennials chose either "often" or "very often" when asked "How often do you choose restaurants based on the healthfulness of their menu?" Only 21% of gen Xers and 18% of boomers made that choice, aligning with data showing thatmore millennials say it is important to eat healthy.