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The State of Millennial Dining
If you are wondering what attracts millennial customers to your restaurants, perhaps the No. 1 answer is the ability to provide an experience, new National Restaurant Association research finds.
According to the Association’s 2019 State of the Restaurant Industry report, millennial customers, aged 21 to 38 years old, said they would like restaurants to serve technology that improves the dining experience, offer more environmentally sustainable items, and create easier opportunities to order takeout and delivery.
Regarding the general dining experience, the report found millennials were willing to pay more to get more. Here are a few of the topline findings...
Affluence in America: Baby Boomers Control Nation’s Wealth, but Shifts are Underway
By a wide margin, Baby Boomer households control more wealth than any other generation, according to market research firm Packaged Facts in the brand new report The Financial Services Market: Affluent and High Net Worth Consumers, 8th Edition.
Packaged Facts estimates that in 2019 Baby Boomer households garner 54% of total U.S. household net worth, followed by Generation X and Silent Generation/Senior households. Well behind, Millennial households contribute only 4% of total U.S. household net worth.
Despite current trends, Packaged Facts’ research reveals that major generational shifts are underway ...
Millennials with Kids Are a Growth Group for U.S. Restaurants
Millennial parents, just like parents from the generations that preceded them, are increasingly looking to restaurants to take on the task of cooking for their families. Millennials with children increased their restaurant visits by 5 percent in 2018 compared to prior year, reports The NPD Group. Their visit increase is in comparison to flat traffic growth for the total foodservice industry in 2018, according to NPD, which tracks on a daily basis U.S. consumers’ use of restaurants and other foodservice outlets.
Millennials overall make the most restaurant visits per capita although their visits have been slowing. As teens and young adults they influenced the growth of the fast casual category, the “fresh” movement, and were early adopters of the hottest sauces and an assortment of ethnic flavors. Now as parents with hectic lives they’re turning to restaurants for ...
U.S. Food Market Outlook 2019: 4 Key Trends
What’s in store for the food industry in 2019? Market research firm Packaged Facts predicts “disruptive innovation” that will shake up years of subtle stagnation in the mature food industry and spur growth over the foreseeable future.
In U.S. Food Market Outlook 2019, the latest edition of its best-selling series, Packaged Facts examines “disruptive innovation” across 14 essential food categories: Cereal, Chocolate Candy, Cookies, Fresh Bread, Fresh Packaged Salads, Frozen Dinners/Entrees, Frozen Pizza, Ice Cream/Frozen Novelties, Meal/Snack Bars, Meat/Poultry, Natural & Specialty Cheese, Salty Snacks, Soup, and Yogurt.
Packaged Facts identifies several key disruptive trends to watch for in 2019. Four of these top trends involve...
How U.S. Millennials Are Shaping Online FMCG Shopping Trends
There’s no denying the impact and influence that digital technologies have on our lives, particularly among younger generations. But even in a world that is steadily heading online, it’s important for manufacturers, brands and retailers to understand that brick-and-mortar environments are not fading in importance—even among Millennials.
According to the latest Nielsen Category Shopping Fundamentals study, as detailed in our recent Millennials on Millennials report, 60% of U.S. consumers’ FMCG decisions are still made at the shelf. This is a key insight for retailers, but so is understanding the influence that digital has on influencing consumers on their way to the shelf. Not surprisingly, Millennials are more active on social media than older generations, and this affects the way they look for information as they shop. For example...
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