The hospitality industry is in a state of constant change. To be successful, operators need to have a genuine curiosity for food and beverage, keep up to date with emerging trends and stay informed about changes in customer behaviors, preferences, and expectations. Remaining relevant and unique is incredibly important in this industry, and also one of the greatest challenges operators face. Anticipating what the market demands is key. Right now, hospitality operators need to get on board and appeal to Millennials and generation Z. They are the largest emerging consumer group and are reshaping the industry.
These generations have a strong focus on health and wellness and are discerning about what they consume. In the beverage world they are leading the charge towards out of the norm wine varietals and low alcohol beverages. This market is growing at pace, get onboard. From a food scene, Millennials and generation Z are dining at high-end restaurants, demanding and happy to pay for high-quality, organic, and sustainable food. They value transparency in the sourcing and production of their food and beverage.
Millennials and Gen z prefer to spend money on a luxury experience than a product. Having been exposed to the Internet and influencer marketing for most of their lives, they are looking for memorable events that captivate their emotions and create a sense of exclusivity. These events are about indulging in unique dining experiences that are Instagram worthy and shareable with their peers. It’s a way for them to express their individuality and personal style.
A luxury food and beverage experience also offers a break from the fast paced and digital world that they are constantly connected to. It provides an opportunity to disconnect, savour the moment and enjoy the sensory pleasure of food and beverage.
As hospitality operators we need to understand that Generation Z and Millennials are shaping our industry by seeking luxury food and beverage options that prioritise their health, help express their individuality, and ensure unique exclusive experiences. Their influence is prompting the industry to adapt and innovate to meet their evolving needs and preferences.
By understanding and catering to these preferences you can position your food and beverage business to stay ahead of the competition.
