One of the reasons I tell people that food truck are here to stay is that the next generation of consumers (Millennials) is tailor made to the industry’s continued growth and expansion. Why? It’s rather easy to come to this conclusion…it is because the next generation is that of the Millennial.
Millennials are those ages 19 to 34. Numerous studies are showing that they are buying fewer cars, houses, electronics, and credit cards. Why is this? Being the group hit the hardest by the economy, they have less money than their parents did at the same age. In fact, the average worth of someone from the age 29 to 37 has dropped 21% over the last 30 years. What does this mean for food truck owners owners?
Millennials are eating out less and less. This young generation is watching their wallet, and being more cautious about their spending. However, with this change in spending, also has come a change in what in desirable in food trucks. Millennials want the new, unique, and authentic. Not that this group isn’t eating out, it just means they want something that other generations really haven’t been as worried about.
So what exactly is this group of 80 million prospective customers looking for when deciding where to eat?
What Are Millennials Looking For?
Variety and Customization
Millennials demand choices and the ability to personalize their order. Millennials expect variety, more choices, customization and their ability to be able to personalize their food experience.
History and Background
Millennials want some substance behind where they eat. They like to know the story about the places they eat, they think it’s key to feed one’s heart in addition to one’s stomach when going out. This is a place where food trucks can take take advantage by providing the history of how the mobile business came about to be what it is.
Quality ingredients are an absolute must for the this generation. Millennials believe that they deserve the best and will not settle for anything less. Millennials want to know and trust the food they receive in return for their money.
Another new trend with this demographic is connecting with companies and businesses that are socially responsible and trustworthy. The bottom line is if they can’t trust you to take care of the world outside your mobile business, let alone your own workers, then they won’t trust you to serve quality food.
The Bottom Line
Generation Y is the most dominant demographic today. However, just making your name known won’t guarantee they’ll step up to your service window. As you can see, it takes a lot of factors to grab their attention and their business.