Food & Drink International - Spring 2017 Volume 1 - 7
>> New experiences are a priority among millennials and generation Z. Sharing them on social media provides a means to demonstrate status, access and influence.
GYK Antler, agrees that younger generations are spending more of their
disposable income on food and experiences. "Many young adults came of
age in the recession and had financial
boundaries placed on them, limiting
their access to traditional goods and
services," he explains. "This increased
the value placed on experiences that
were more accessible and inherently
social. Dining out or meeting friends
for drinks became a natural choice for
an affordable indulgence."
New experiences are a priority
among millennials and gen Z, and so
is being the "first" to do so. "Millennials typically have more disposable income than gen Z, so they're more apt
to seek out premium food and dining
experiences," Sadler says. "For millennials, capturing and sharing these
experiences is a form of expression
and a way to reinforce a story they
want to tell about themselves. Sharing
high-end or exclusive dining experiences provides a means to demonstrate status, access and influence."
Gen Z is more price sensitive and
spending less on traditional luxury
and travel, Sadler says, but adds that
studies show they are willing to spend
extra money to dine out. "That's coming through in their social media, as
well," he says.
Wanda Pogue, chief strategy officer
at Saatchi & Saatchi New York, says
- through their restaurant decisions
and meal choices, says Jodi Sweetbaum, president and managing director of Lloyd & Co. "Not all, but many
young people are elevating their status by expressing themselves through
food on social media," she adds.
"This culture of sharing has also
led to a competition," Sadler adds.
"Sharing a photo from an exclusive
restaurant is the equivalent of a
humble brag." - Brady Sadler
people have always sought to express
who they are through the clothes they
wear and possessions they own. Today, gen Z and millennials express
themselves through the foods they
eat. "Many consider spending $100
on a logo designer t-shirt senseless
and would rather invest in an exceptionally made quality treat," she adds.
Both generations are expressing
themselves - especially on Instagram
"We all like being the first to discover
or experience something. Sharing a
photo from an exclusive restaurant is
the equivalent of a humble brag."
Brands should emphasize why they
are desirable, including their unique
values, aesthetics and story to adapt
to the idea of food as the new luxury
item. "If that point of view makes gen
food & drink international * spring 2017 volume 1 * www.fooddrink-magazine.com