a�?There is a new breed of aspirational eaters a�� young-ish frequent flyers who subscribe to Kinfolk magazine, keep must-hit lists on their iPhones and follow star chefs. This isa��eating as experience, passion and self-expression.a�? -- The Globe and Mail, Aug. 2013
Not since Y2K has the word Millennium been tossed around so much. Every marketing agency and their mother can’t get enough of talking about Millennials… but why?
Well for starters, this segment of the population (loosely defined as anyone born between 1977 and 2000) is projected to account for HALF of all travel spending by 2020, according to a recent trend report by Skift. They also love to eat – devoting more of their disposable income to food and drink than any previous generation and voraciously boasting about their most beloved bites on all manner of social media platforms. (Ed note. You’re on Instagram… right?)
It’s hard to argue with these numbers:
- 41% of Canadian respondents aged 25-34 years old indicated that food and beverage offerings were the biggest deciding travel factor (TIAC + Deloitte Navigate)
- Millennial travellers update their social media accounts at least once per day with 97% indicating they post on social network while travelling (Chase Credit Card Services)
- The annual purchasing power of Millennials is $170B (ComScore)
Perhaps most crucially, Millennials are influencing the travel and dining habits of older generations. According to Jeff Fromm, author of Marketing to Millennials, a�?to predict what will be hot tomorrow, you merely need to look at whata��s hot with Millennials todaya�?. That includes communal tables, sharing plates, diverse flavours and artisanal, small batch spirits. Oh, and it better be delicious!
Want to tap into this lucrative market that’s influencing edible experiences around the world?
Request a copy of our brand spankin’ new webinar: Attracting the Millennial Food Tourist, packed with even more tasty tidbits, insights and best practices from destinations that are doing it right.