According to a new study published by UBS, Millennials might make home-cooked meals obsolete. With the growing use of online ordering, Millennials might be the generation to streamline our dinner process.
But Millennials don’t just want more accessible food options; they also want to ensure their food comes from local, sustainable sources.
According to Business 2 Community, nearly two-thirds of Millennials prefer to purchase healthy, prepared food on apps and other services. They want to know if the food is non-GMO, organic, sustainable, and local. This level of transparency has been pushed by Millennials for decades, and we’re seeing the results on our labels and in restaurant menus.
The average American eats out around 4.5 times per week. Why? It’s thought that Millennials emphasize convenience when they choose to buy food. Instead of slaving over the stove for hours, Millennials want healthy food, and they want it quickly, whether that means ordering in or eating out.
Through the growing use of food delivery apps like GrubHub and Ubereats, Millennials have been able to get better-quality food as the technology for these delivery options keep evolving.
“Millennials are three times more likely to order in than their parents are, according to the report. The main reason for this is likely the convenience that food delivery offers. But it has become an even more enticing option recently as the quality of restaurants now offering delivery has gone up,” writes Business Insider in regard to the UBS food report.
This is no surprise given the recent projections in home design costs; furniture markets foresee an estimated $695 billion by 2019. It seems that people want to spend more time enjoying their space than working on it.
However, recent trends show Millennials have also been eating out more often. An estimated 43.5% of consumers eat out, nearly double the numbers in 1970. This is likely due to technological innovations; Millennials’ emphasis on sustainable options have led to restaurants profiting on this appeal. The new technology also offered in restaurants — including WiFi and new POS systems — have had a positive correlation between Millennials dining out more often.
Business Insider reports that the momentum behind app-driven ordering will only make it a more affordable option for Millennials. Though Millennials are obtaining new, streamlined ways of ordering, this might spell disaster for some U.S. food distributors and producers.
Prepared meals and easy-to-make meals, like Kraft’s instant mac-and-cheese and General Mills’ desserts might get hit the hardest if they don’t integrate this new technology into their business models. Fast-food restaurants also fear their validity in the ever-evolving market.
“Those retailers that can redirect, or at least diversify, sales to new avenues of growth such as online grocery, ready-to-eat meals, quick service restaurants, etc., should see a benefit,” claims the UBS report.
While the future of some companies is unclear, one thing is transparent: when it comes to eating, Millennials simply want more.
Tags: Business 2 Community, Business Insider, Grubhub, Kraft, LA Guestlist, Los Angeles, Millennials, Ubereats, UBS
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