Millennials and food trucks go together like Sriracha and…well, everything (the idea that Sriracha may already be on its way out of Millennial favor is another story altogther). Millennials are a generation of foodies. These connoisseurs—and sometime-snobs—don’t leave their food obsession in the kitchen, though, and they have been driving (see what we did there?) the exponential growth in food trucks over the last few years. According to recent research, 47% of Millennials have eaten at a food truck.
Food trucks offer Millennials fast, convenient—and most of all unique—meals on the go. Millennials are adventurous eaters, and food trucks offer them a new experience every time. Food trucks are also inherently social: they operate in densely populated areas, lead to communal eating, and often rely on social media to spread their business.
Millennials do not only buy from and socialize around food trucks, but they are investing in them too. The mobile business appears to be here to stay.
“It’s just exciting to eat food that comes from a truck.”
As the Millennial quoted in the subhead above points out, food trucks offer a deviation from the brown-bagged lunch of yesteryear or even a normal lunch hour out at a restaurant. This fits well with Millennials’ desire to try new things—and new food—perfectly.
As many as 88% of American Millennials report wanting to try new types of food. They crave customizable food options for every meal. Food trucks meet this need by offering unique dishes from different cultures and locales around the globe, many of which are not represented by physical restaurants they can patronize. These unique foods and flavors, coupled with low prices, make food trucks a Millennial favorite.
Since most fast food chains have been deemed unhealthy, Millennials are also starting to turn to food trucks that provide locally-grown food as an alternative. And you better believe they have plenty of Sriracha on hand, just in case.
Millennials: Socializing Food
Is it any surprise to learn that the generation who made photographing their lunch an actual thing is socializing all areas of their culinary lives?
Millennials are deeply connected through social media, and smart food truck companies utilize this social media passion to attract and retain customers. This engagement in social media has helped food trucks thrive even during the recession.
Food trucks rely on a social media presence to announce to their customers their location, so those customers can further share this info so more customers find these food trucks. According to Millennial Magazine, 84% of people who follow food trucks on social media check their favorite ones at least once a week.
Millennial foodies check Twitter for food truck locations that change daily, turning food truck spotting into a social game to play with friends. Food trucks allow Millennials to connect IRL, too. Food trucks thrive in high-volume areas, where Millennials can eat and mingle, and be their communal selves. Customers also meet the people making their food directly to personalize the dining experience from plate to palate.
Millennials: Buying From, and Into, Food Trucks
Millennials are an entrepreneurial generation, always in search of the next hot start-up, technology, or business opportunity. They have noticed the rising popularity of food trucks (likely while standing in growing lines). As Business Insider points out, the number of food trucks increased by 197% from 2011 to 2013.
The Food truck economy is skyrocketing, and is expected to reach $2.7 billion in revenue in the U.S. alone by 2017. This is appealing to Millennials’ stomachs, but also to their entrepreneurial hunger. Starting a food truck is estimated to cost between $30K and $80K, depending on the specifics.
For Millennials interested in opening their own business who may be risk averse after living through the Great Recession, astronomical student loans, and a historically weak job market, this is much more palatable than the estimated $450K-$525K is could cost to open a traditional restaurant.
The Bottom Line
Millennials love food trucks, and their new choice for food-on-the-go (so long fast food!) appears to be here to stay. Food trucks meet Millennials need for adventurous and socialized eating while appealing to their sense of entrepreneurship.
Smart brands across the food industry have noticed this, and are cashing in on Millennials’ food truck infatuation. The Food Network is now in their 5th season of their original series The Great Food Truck Race, which follows a variety of aspiring food trucks as their owners/chefs test their dishes in different cities across the country.
Food truck festivals are also popping up all across America, from Portsmouth, New Hampshire, to Los Angeles (and we know how much Millennials love festivals). As they age, and their spending power grows, Millennials will continue to seek out the food trucks they have discovered early on—as long as their Food Truck App is working, of course.
The G Brief is the digital magazine published by Urbaneer Creative. We’re a boutique consultancy focused on helping clients better understand and engage the Millennial generation. Reach out to see what we can do for you.