Millennials and 'fast casual': food trends everyone is watching
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Scott Hume Burger Business
No one understands the foodservice business in the UK and Europe better than Peter Backman, managing director of London-based researcher聽. He also is one of the sharpest observers of the trends evident at the annual National Restaurant Association Show. Peter Backman was on the show floor for this year鈥檚 just-completed event as well and BurgerBusiness.com is pleased to share his insightful report, titled 鈥淭he New Normal.鈥�
In his introduction, Backman writes: 鈥淭wo words were on everybody鈥檚 lips 鈥� Millennials and Fast Casual. They formed the leitmotiv of this year鈥檚 NRA Show. Later on, we comment on what these words mean but they translate into the confirmation that the world of tomorrow will be different from today鈥檚 because the latest cohort of new consumers 鈥� the Millennials 鈥� have different perceptions, aspirations and lifestyles from their predecessors 鈥� Gen X, Baby Boomers and the rest.
鈥淲hile Millennials aren鈥檛 the only people attracted to Fast Casual outlets, they are hugely influential in their emergence. The sector is growing significantly faster than any other sector in the restaurant space whether quick service, casual dining, family dining, or fine dining.
鈥淥verall the US foodservice sector is forecast to grow at a shade under 2 percent in real terms in 2015 (that鈥檚 getting on for 4 percent in nominal terms) 鈥� and the outlook is brightening which means the outturn may be slightly better鈥he overall take away is that the US foodservice market is expanding just a bit, and because one specific sector 鈥� Fast Casual 鈥� is a clear winner, it is clear to everyone where they should be focusing their attention.鈥�
There鈥檚 a long weekend coming up. I invite you to spend a small part of it reading Peter Backman鈥檚 complete report, which can be accessed聽.
