The Millennial demographic, including those in their early teens through mid-to-late 20s, is expected to increase its spending influence and its size, mostly driven by immigration, in the next few years.
This growth should provide a big boon to the foodservice industry. According to recent research by The NPD Group, Millennials made more than 13 billion of the 59 billion visits to restaurants in 2010 and spent $73 billion.
And, a new report from Technomic and C3, The Dining Habits of Tweens and Teens, shows that tweens/teens play a large role in where their friends and families eat. Fifty-eight percent of teens and 54 percent of tweens report that their family decides together which full-service restaurant to visit. More.