Catering Trends: Meeting the Needs of Millennials and Couple's Unique Desires

2. The State of Serving Satisfaction • According to Catersource, the total US catering industry is approximately 6% to 8% of the approximately $700-billion US foodservice sector, or a range of $42 billion to $56 billion in annual revenues. • Generating those total revenues are retail catering, hotel banquets, restaurant private dining, off-premise, on-premise and per-event, non-commercial foodservice contracts. • There are approximately 10,000 “social” catering companies in the US, which do not include food service contractors, hotels and restaurants. Most companies are small and local, as the top 50 US companies capture less than 15% of total annual revenues.

3. Growth and Expectations • According to the latest survey of its magazine subscribers and Website visitors, Catersource found that approximately 72% said their 2014 revenues increased and 78% expected the same for 2015, and many a substantial increase. • More than 50% of those participating in the survey said they catered more than 250 events during 2014, and 27% of them said the 2014 total would exceed 500 events, with 34% of those events with 200 guests or more. • Caterers’ three major business concerns are food: new, affordable and attractive proteins; staffing: many employees are part-time, causing significant turnover and training of new staff; and labor costs: minimum-wage trends and a tight labor market.

4. Wedding Bliss Biz • According to The Knot 2014 Real Wedding Study, couples spent less for their wedding ceremony and more on their reception, including catering, increasing from $66 per guest for 2013 to $68 per guest for 2014. • Banquet halls, at 22%, was the first choice among couples for their reception, with country clubs and hotels second at 11% each. The study found, however, that approximately 40% of couples want their receptions in unusual or unique venues. • According to The Wedding Report Q4 2015, 25.3% of couples like the idea of contracting with a food truck to serve post-wedding food, such as sandwiches and sliders, cultural flavors and sweets/desserts.

5. Addressing to New Audiences • According to the July/August 2015 issue of Catering Magazine, a majority of catering customers are Millennials. Many are the source of wedding business, but a growing number have the authority at corporations and companies to hire caterer for events. • At least one caterer estimated that 60% to 70% of his communications with Millennials are via digital channels and, whether a bride or corporate event planner, he or she expects almost immediate responses from caterers to their inquiries. • UCLA’s Williams Institute, which studies LGBTQ issues, estimates that a potential of 4.5 million same-sex marriages could add $2.6 billion to wedding industry revenues. The Wedding Report forecasts an additional 75,000 to 90,000 of these weddings per year.

6. Taste Trends • One of the catering trends increasing in popularity is serving unfamiliar international cuisine, which allows guests to taste items they might not otherwise buy at a food store or order at a restaurant, and it makes the meal and the caterer more memorable. • Multiple-course dinners served to seated guests are replacing buffet lines and plates of finger food, as more couples and guests prefer to sit and relax and enjoy their meal and each other’s company. • In terms of beverages, more couples are asking for custom cocktails, including modernized traditional drinks. Craft beers or microbrews are also popular bar offerings, especially beers and spirits from southern states.

7. Advertising Strategies • Recommend TV advertising to caterers who want to increase their children’s party business as a method to build name recognition and drive parents (especially mothers) to social media for engaging visual content of party themes and special menu ideas. • Venues or banquet facilities that are unusual or trendy will also find TV an excellent medium to generate interest among engaged couples and corporations and companies that want a unique setting for wedding receptions and business events. • Testimonials in TV spots will also serve caterers and banquet facilities owners/managers well, especially if told in a story format that requires viewers to visit the company’s Website and/or social media pages to view the remainder of the story.

8. Social Media Strategies • A strong social media presence is essential for caterers whose primary audience is weddings since most of them will be Millennials. They want content that will help them plan their weddings, make the effort less stressful and available in a mobile-friendly format. • Because catering is a very personal service, even for corporate clients, an active blog will help to identify the caterer as the local expert and build trust among potential customers that he or she can deliver a very attractive, enjoyable and memorable event menu. • LinkedIn should be a prominent part of venues and banquet facilities’ social media strategy to network with corporate and company event planners, providing relevant content and ideas to make their jobs easier and the hero or heroine with his or her boss.