These Consumer Trends Are Driving Restaurant Growth and Contraction

These Consumer Trends Are Driving Restaurant Growth and Contraction

On this episode of The Barron Report, Paul Barron analyzes Foodable Labs data around two generations that are causing major shakeups in the restaurant industry: Millennials and Generation Z. We look at the frequency of restaurant visits, guest counts, and popular social platforms within these groups to give your concept insights into how to win with this major market segment. 

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Recent Study Reveals that Snacks are Replacing Meals

How are the snacking habits of Americans going to change the restaurant industry?

There were some interesting findings in the Nielsen Global Survey of Snacking including-

  • 91% of consumers polled say they snack at least once a day.
  • The  global snacking industry accounts for $374 billion, which increases about 2% annually. 
  • 45% of the participants said they use snacks as meal replacements.
  • 43% of the participants replace lunch with a snack.
  • Chips were the most popular snack, followed by chocolate, and then cheese snacks .

Could this be a reason why small plate menus as so popular at restaurants? Is a snack really a sufficient meal? Will restaurants see a decline in traffic? Or does this just mean that diners will be hungrier when they arrive for dinner, after just snacking for lunch? Read More