WEIRD AND WONDERFUL FOOD TRENDS
Here’s a stat that will make landlords think twice about the type of restaurant they bring to their malls: they can cap- ture 12% more sales revenue and 35 extra minutes of
time in location from people who stop and eat versus people who
don’t, according to Naveen Jaggi, president of Retail Advisory
Services for JLL. “That’s a pretty big chunk of time and money
when you compound it over thousands of shoppers,” he says.
To be sure, it’s generally known that creating a compelling
food offering within a shopping center has benefits. The challenge has always been that there is no one-size fits all solution,
JLL drives that point home with the release of its Global Food
Trends report at ICSC’s Food for Thought conference. It scoured
the globe for the “weirdest, most wonderful and prophetic innovations in foodservice,” it said—and it found a lot. Fortunately
for us, JLL shortlisted the trends it believes landlords and restaurateurs should watch this year in its report.
The Experience Economy
Here is where eating will collide with art, gaming, technology or
theater with an increased use of virtual and augmented reality.
US spending dedicated to experiences has increased 70% as
compared to 30 years ago, and today nearly 80% of millennials
would choose to spend money on an experience or event over
buying an object. Consumers increasingly look to experience
something that others can’t, JLL notes. Expect consumers to
seek new twists on premium products and exclusivity, such as
the use of virtual reality, JLL says. Immersive or visually impressive experiences will capture consumers’ scarcest resource,
which is their time.
Tech innovation has come to the foodservice industry. Meal
The Youniverse Consumer
delivery has grown 25% in the past three years and is expected
to grow 14% by 2020 as consumers expect quick, quality food
at the snap of their fingers. Expect to see delivery driver access,
short-term parking, delivery-specific menus and customer
review management to become increasingly important, JLL says.
Another tech-related innovation: Orderscape has developed a
food-ordering chatbot that works through Alexa in over 140,000
locations in the US.
With the rise of social media, what consumers do and eat has
become an form of self-expression – today people characterize
themselves by what they eat. ‘Gourmet’, ‘Michelin’, ‘Street
Food’, ‘Vegan’ are not just buzz words, they help define a lifestyle. Going forward, expect design and marketing initiatives to
encourage social media engagement as chefs serve up headline
An Unlocked Supply Chain
From 2007 to 2017, the number of US farmers markets grew by
100%, reaching 9,000 markets. The rise of consuming locally
has been fueled by consumers’ demands for authenticity and
curiosity. These concerns extend from sustainable consumption
to supporting small business, and are driven by a sense of pride,
eco-preservation or convenience. JLL predicts that traditional
retail boundaries will continue to blur as suppliers sell directly to
the public, and restaurants grow their own in-house ingredients.
Purpose and Profit Come Together
Consumers are increasingly aware of the negative impact that
consumption has on the planet. Around one-third of food produced for human consumption is wasted. As a result, governments, businesses and customers alike have started to push for
a change in how we use our resources. Consumers are connected to brands with social or environmental value – indeed
more than two-thirds of people want brands to help them make
a difference in the world.
coastal regions and are also very submarket specific.
RAF Pacifica Group is developing a mixed-use project
in San Diego called “Flight” that will include luxury high-end apartments, dining and restaurant options, ground-floor retail and office space. The company also recently
acquired the retail portion of Pacific Station in Encinitas,
which is part of a 100,000-square-foot mixed-use asset
encompassing residential, office and retail space.
“The retail components of those developments will
benefit from their surrounding multifamily and office
counterparts, which will drive increased traffic, as well
as result in longer lengths of stay,” he says. “By integrating multiple uses within one single development, we
are catering to the needs of today’s consumers while
simultaneously diversifying to provide downside protection against large vacancies from single-use product.”