The relationship between young generations (Millennials and Gen Z), luxury, and food is a current and complex subject. Millennials and Gen Z are the first digital native generations to be very comfortable with technology devices and interested at an early stage in luxury food experiences. By exploring youth food culture and current luxury food experiences and practices, the authors identify three trends (digitalization, extended realities, and cause-related marketing) as key areas food brands and food actors (e.g., restaurants) should capitalize on to educate, facilitate, and promote the adoption of pleasurable, healthy, and sustainable food consumptions. The authors provide an overview of these three new key trends together with examples Millennials and Gen Z consumers are attracted to considering luxurious food consumption and experiences. This chapter contributes to the need to look at contexts of application (food) where sustainability and the digital transformation highlights the present and future for the promotion of luxury goods and experiences.
Top1. Introduction
The relationship between Millennials, Gen Z, luxury, and food is a subject that is both very current and particularly complex. Gen Y, or Millennials, are commonly characterized as individuals born approximately between 1985 and 2005. Gen Z, or Post-Millennials, is the demographic cohort succeeding Millennials, including individuals born between 1995 and 2015. These young people are among the first digital native generations to be very comfortable with technology devices, being concerned about healthy and sustainable (food) choices, and being extremely interested in luxury (food) experiences.
For luxury brands in the food sector, each generation advent raises new questions about the transmission, continuity, and breakdown of social behaviors (work, food consumption, daily life, etc.). Referring to Millennials and Gen Z, the technological revolution has had a powerful impact in terms of food values and characteristics of luxury food consumption of this youth generation. Today, in fact, the youngest generations are confronted with digital experiences, such as the ones facilitated by social media, physical and virtual influencers, and extended reality technologies (XR) aimed at creating immersive experiences, which need to be authentic and entertaining. For instance, the advent of extended reality technologies is opening new doors to luxury food brands for delivering compelling customer experiences in the luxury food market. XR makes individuals feel as if they are in an entirely new digital world (O’Donnell, 2018), augmenting hedonic value, such as entertainment and shopping/experience enjoyment, leading to higher customer satisfaction at the end (Childers et al. 2001). Therefore, all these digital tools can potentially influence and shape the relationship Millennials and Gen Z have with food, luxury food consumption, and experiences.
Furthermore, Gen Y and Gen Z are also defined as the “empathetic generation” (Arnett, 2010). They seem to be the most receptive to corporate social responsibility activities and above all to cause-related marketing activities, i.e. the partnering of a for-profit company with relevant social causes (CM, e.g. Bucic et al, 2012). These generations are looking for an emotional connection with companies and brands, as they are deeply concerned about social issues (Howe & Strauss, 2000; Youn & Kim, 2008). Millennials demand companies be socially responsible, and companies recognize the power of these consumers not as merely buyers and users of their products, services, experiences, or ideas, but also as allies to change and make a positive impact on society at large.
In thinking about how the broader area of food, luxury food, and well-being might be promoted in society, learning more about the motivations and trends of young adults is important as they are learning to be consumers and are the future main consumers of luxury brands. There is the opportunity for long-term positive effects if the research can understand them better at the point that they begin to take on more responsibility for their own food consumption and the relationship between luxury food and experiences.
By exploring youth food culture and current luxury food experiences and practices, the authors wish to identify trends that luxury food brands can potentially use to educate, facilitate and promote the adoption of pleasurable, luxurious, and sustainable food consumption, which can contribute to the well-being of youth by offering them unique and exclusive luxury food experiences.
Moreover, the aim of the chapter is also to investigate and provide details on what are the new key trends Millennials or Gen Z consumers are interested in when they look for luxurious, healthy, and sustainable food consumption and experiences.
In particular, the trends identified, which are going to be discussed in detail in the chapter pertaining to the luxury food industry are the following:
- i)
Social media and the importance of influencers
- ii)
Extended Realities (XR), such as augmented reality and virtual reality
- iii)
Cause-related Marketing (CM), as the partnership with social related causes
The authors review each of these trends and provide connections and examples as related to luxury food consumption and pleasurable and healthy food experience.