Exclusivity and culture-savvy now trumps highbrow eating
Implications - As social media continues to fuel the consumer desire for authenticity, the foodie world turns toward cultural capital and insider knowledge as the true marker of the elite. This is in direct opposition to the idea of fine dining as the pinnacle of eating well. Essentially, Michelin star-studded gourmet restaurants are being replaced by dive bars that only those in the know are aware of. This is a result of the cash-strapped Millennial foodie, whose values are more aligned with culinary resourcefulness than expensive ingredients.
Workshop Question - How can you add an element of exclusivity to your products or services?
Trend Themes
1. Authenticity Over Highbrow Dining - As the desire for authenticity in food continues to grow, consumers are turning towards cultural capital and insider knowledge as the true marker of the elite, leading to opportunities for cash-strapped Millennials and the dive bar scene to thrive.
2. Secret and Exclusive Dining - Dining events, invite-only eateries, and underground bars are becoming increasingly popular with consumers seeking exclusivity and unique experiences, creating opportunities for businesses to capitalize on consumers' desire for secret and exclusive spaces.
3. Social Media Marketing for Restaurants - Restaurants are investing in social media influencers and designing photo-friendly dining spaces to appeal to customers' desire to share their food experiences on social media, creating opportunities for businesses to create more shareable and Instagram-worthy dining experiences.
Industry Implications
1. Hospitality Industry - The hospitality industry can reference these trends to develop new experiences, spaces and offerings that appeal to consumers' desire for unique and authentic experiences and exclusive spaces.
2. Food and Beverage Industry - The food and beverage industry can develop new menus, ingredients, and innovative culinary offerings that appeal to consumers' desire for authenticity, exclusivity, and unique dining experiences.
3. Marketing Industry - The marketing industry can work with restaurants and other businesses to develop social media marketing strategies that leverage influencers and appeal to customers' desire for shareable and photogenic food experiences.
