Coffee is king with millennials.
Coffee is the perfect beverage for millennials who have emerged as consumers. Today, especially, it offers the expansive variety and the ability for almost endless customization that millennials have come to expect.1 No wonder, people aged 19 to 34 make up 44% of the world’s coffee drinkers.2 Appealing to this influential market is critical and requires partnering with beverage experts who have their fingers on the pulse of what tomorrow’s coffee drinkers will desire.
1. 2017 Red Diamond Beverage Council
2. Bloomberg, Oct. 2016
Millennials are changing the way we drink.
Out-of-home coffee is particularly big with the younger generation. In fact, younger consumers are more likely to consume coffee out-of-home at a rate of 46% versus 26% of older consumers.3 Millennials, especially in urban areas, are influenced by the prevalence of coffee bars and shops. This trend has driven millennials to be more discerning in their tastes.4 Whether at home or at restaurants, they come to expect the same quality and variety of coffee they enjoy at coffee shops.
3. National Coffee Association
4. NPD ala Gourmet Insider.com, 2016
It’s no longer just a hot cup of joe.
Millennials in particular are seeking new flavors, new formats, new textures and new sensory thrills.5 Between 2008 and 2016, consumption of gourmet coffee rose 23% among 18-39 year olds.6 Another influential trend, cold brew coffee, has seen sales skyrocket by 580% over the past five years. RTD coffee, including cold brew, is also anticipated to make its presence known; estimated to be an 18 billion dollar business in 2020.7 Staying out in front of these trends is critical for an operator’s success. Partnering with a company that is invested in anticipating consumer needs is the ideal place to begin.
5. Food Navigator, 2016
6. millennialmarketing.com, 2016
7. NCA National Coffee Drinking Trends Report, 2017
Keep your coffee program fresh and relevant.
Meeting on-trend demands can be a daily challenge. Established companies like Red Diamond® continually find ways to stay out in front of the next wave of coffee drinker wants. “We know that millennials play a huge role in driving coffee consumption,” says CEO Bill Bowron. “We’re committed to helping our customers capture more away-from-home opportunities.” Knowing that today’s coffee drinkers are particularly tuned into the quality and taste , Red Diamond expertly crafts their coffee for a discerning crowd by using only handpicked, high-grown beans from around the world and roasting them to perfection in their gold-standard Scolari roasting system. But almost as important as brewing the perfect cup of coffee is knowing what “the perfect cup” means in the evolving beverage climate. One of the ways Red Diamond stays “in the know” is with the Red Diamond Beverage Council. “This council of industry experts provides us with insights and trends,” says Bowron, who credits the council for “advising us on initiatives and bringing new and interesting ideas and products.” After all, succeeding in the future means knowing what the tastes of tomorrow may bring. To get more information on how Red Diamond can help you build an even more successful beverage program, click here.