The NPD Group, a leading market research company, found in its recent National Eating Trends survey that members of the Millennial generation, also known as Generation Y, have significantly decreased their rate of dining out. This age group also tends to base their food choices on impulse, price and time. Here are other findings from the NPD report.
• Twenty-somethings are more likely than other generations to consume frozen meals and other convenience foods.
• Members of Gen Y are much less likely to use leftovers as opposed to members of other generations.
• Cost is a major concern to Millennials. This group has been the most affected by the recession and is therefore more likely to go to low-priced retailers such as Walmart to purchase food.
• According to NPD’s CREST, twenty-somethings were once the group that dined out the most frequently but their incidence of dining out has decreased greatly in the past two years.
• Consumption of both meals and snacks has also decreased significantly for this age group.
Source: The NPD Group, August 12, 2010