According to new research, nearly half (44%) of the money that millennials spend globally on food goes towards buying food in cafes and restaurants or ordering take-away.
In the wake of a hostile debate about Australia’s affordable housing crisis, it appears that many young Australians are prioritising food over houses and that money is being poured into the F&B and hospitality sector.
However, when it comes to what they want to spend their money on, market research has shown that they are looking for something very specific when it comes to their food experiences.
According to Future Food’s Francis Loughran, who will be presenting at The Urban Developer’s upcoming event ‘Food is the New Black: The Importance of Experience and Customer-Centric Design in Delivering Successful Retail Precincts,’ there are five key things that millennials want that will lead to winning and retaining their business.
By 2017, millennials will have the power to outspend the Baby Boomers, so we better pay attention!
About Francis Loughran
Francis Loughran is the Founder and Managing Director of Future Food, Australia’s premier global food and hospitality consultant. With over forty years in retail, food and hospitality, Francis understands consumer needs and aligns them with the spatial positioning of the projects he is working on.
Francis specialises in strategic planning of F&B precincts, trend analysis, cultural adaptation, transition strategies, spatial planning and design analysis of retail, commercial, leisure and mixed use developments around the globe.
Interested to know more?
Hear from Francis and other experts at our upcoming event series.
FOOD IS THE NEW BLACK
The Importance of Experience and Customer-Centric Design in Delivering Successful Retail Precincts.
There is no greater example of a sector in rapid transformation than retail.
In less than a decade, social media and technology have swung the pendulum of power from retailer to consumer and the impacts are being felt across the globe.
From organic food culture and our fascination with celebrity chefs, to food-trucks, pop-up’s, food-delivery apps and - dare we say it - worldwide social media sensation
Salt Bae, it’s time to acknowledge that “food is the new black.”
A greater consumer appreciation for food - and more importantly, authentic experiences - is both a challenge and opportunity for the property industry.
What does it mean to create a meaningful place and a positive experience for the empowered consumer?
The Urban Developer, in partnership with Future Food, is delighted to welcome you to an intellectual feast on ‘The Importance of Experience and Customer-Centric Design in Delivering Successful Retail Precincts.
From Sydney’s Tramsheds to Westfield New York; Auckland’s Ponsonby Central to Brixton Market in the UK, Future Food’s Francis Loughran will take you on an informative and delicious journey around the world’s most successful retail precincts and provide insight into what, when, why and how these precincts emerged.
Francis will also be joined by a panel of leading retail developers, investors and experts in a discussion to be moderated by Adam Di Marco, publisher and founder of The Urban Developer.
This is a must-attend event for anyone invested or involved in the retail or consumer sector.
The National Series will be hosted in Sydney, Brisbane and Melbourne in May/June.
Make sure you avoid missing out by clicking this link to register your tickets.