Millennial consumers aren't just interested in a company's ethics where its own business is concerned. Brands that advocate for social causes, such as LGBTQ rights, immigration law, and gender equality gain favor with millennials. Companies, like Starbucks, which not only exhibit ethical corporate policy and excellent employee treatment, but also frequently speak out on social and political issues, have some of the strongest brand-loyal customers worldwide.
As millennials take the wheel on driving the market, the food industry could also get a lot more culturally diverse.
As a group, millennials are more ethnically diverse than our predecessors and have a more welcoming attitude toward new and different food cultures. The Hartman Group's study on generational food trends reports that millennials are 10-20% less interested in classic American or Americanized ethnic foods than baby boomers, and they express an increased interest in different kinds of global cuisine. A growing demand for international food could present a wider niche for new business opportunities, like immigrant-owned restaurants.
The takeaway? Once marketers stop hating on millennial preferences, the whole industry should see an increase in pro-social, sustainable food culture.
While it's true that millennials might present more of a challenge to marketers than in the past, that's a really good thing. It suggests that the market is being driven by a smarter, more empathetic consumer base, which in turn is driving companies to pick up more socially and environmentally friendly practices that benefit all of us.
