Food & Drink International - Spring 2017 Volume 1 - 6
collecting experiences: by Janice Hoppe-Spiers
Food: The New Luxury
Are millennials and Gen Z indulging in your brand?
>> Food has become the new luxury because millennials and generation Z focus on the experience of dining out, having drinks with friends or attending the grand opening of a hot new restaurant.
Luxury means something different to everyone. Having the best
of the best has most often translated into owning the most expensive car, home and clothing. Millennials and generation Z,
however, are changing the idea of luxury by emphasizing the
collection of experiences over material items.
Havas Worldwide, a fully integrated
global advertising company in New
York City, has been tracking a movement it calls "new-fashioned luxury,"
according to Global Chief Marketing
Officer and Global Chief Revenue Officer Matt Weiss. "It emphasizes the
collection of experiences over the accumulation of goods," he says. "And
it's marked not so much by exclusivity
and astronomical price points as by
factors such as authenticity, provenance and conversational currency."
Sharing experiences of dining out,
food & drink international * spring 2017 volume 1 * www.fooddrink-magazine.com
having drinks with friends or attending the grand opening of a hot new
restaurant has become most common and resulted in food becoming
the new luxury. "This movement has
dovetailed with the explosion in foodism, leading to all sorts of opportunities for food and culinary products
that allow people to explore unfamiliar cuisines, experiment with unusual ingredients and experience new
tastes," Weiss adds.
Brady Sadler, executive vice president of growth and innovation for