Will Generation Y Become Cooking-Conscious?

Column Quick Summary:
  • Restaurant owners don't need to worry.
  • Echo Boomers see cooking as a social event.

The Echo Boom Bomb seldom mentions health and nutrition, however, a recent article spells out an interesting observation about cooking and Echo Boomers:

On the other hand, one-quarter of Millennials claim to “love” cooking. Further, consumers in their 20s and 30s are more inclined to experiment and to agree that cooking gourmet meals makes them feel sophisticated and smart -- suggesting that learning to cook and cooking for friends is viewed as a way to establish credibility among their peers.
Obviously, Echo Boomers see the social appeal of cooking, bringing together a multitude of people and impressing them with good cooking skills. But, at this present time, I don't believe that this trend will grow, as Echo Boomers - who lacked financial resources - still purchased food at many fast food places when I reviewed their accounts. Even Echo Boomers with more money, tended to dine at more expensive restaurants instead of cooking.

Restaurant owners might grow worried about a massive generation cooking (loss of a huge amount of revenue), but the food industry has been resilient even in the dismal economy. Even post 2008 (after the large hit), Echo Boomers were willing to continue going out to eat (the "eating out" trend declined among marrieds with children).

On the flip side, if I was advising a restaurant owner, I would suggest starting a restaurant where the customer "creates" their own food in a heavily social situation. This would appeal to Echo Boomers (the current "young" group in America) and attract the wealthy older types who like to be "hip."

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!