JLL Foodservice Consulting has in their words “scoured the globe for the most weird, wonderful but also prophetic innovations in the world of foodservice.”
The report starts out by stating that While some retail spend has migrated online, eating out spend has boomed. In the US eating out spend has overtaken grocery spend, and Western Europe is not far behind. We have moved from a retail economy to an experience economy, with foodservice acting as a new anchor. Hence the boom in grocerants.
Here are the five mega-trends that JLL is focused on:
1. The Experience Economy
U.S. spending dedicated to experiences has increased by 70% compared to 30 years ago – and nearly 80% of millennials would choose to spend money on an experience over an object. Expect eating, art, gaming, sports or concerts to collide through virtual and augmented reality. They call it “dinertainment”
2. Snobomoties is the next trend.
Enter social media, where everyone now has the ability to be a food critic in the palm of their hand. It’s become an important form of self-expression and people collect Michelin-star dining experiences. Expect marketing initiatives in restaurants to encourage social media engagement as chefs serve up Instagram-worthy dishes.
3. Supply Unchained
Between 2007 to 2017 farmers markets in the U.S. grew by 100%, now totaling 9,000. Consumers are demanding greater authenticity in foods and beverages Sustainable consumption, supporting small businesses, and just getting closer to a brand are chief concerns that are driven by a sense of community pride and eco-preservation.
4. Better Business
Consumers are connecting to brands, and the companies who produce them, that have social and environmental value. JLL found that 62% said they want brands to help them make a difference in the world. Helping reduce the waste in the foodservice industry will continue to create great initiatives and sales and profits for those who do.
5. Conveni-Tech it their last trend.
The meal delivery service market is expected to grow by 15% per year through 2020. Expect delivery driver access, short-term parking, and delivery-specific menus to be commonplace. Sort of Reminds me of Phil’s Take Out, a pop up concept we tested over a decade ago.
Check out JLL’s Trend Report here – it's well done and loaded with successful examples.