The top fast food chain frequented by members of the millennial generation is McDonald’s while the favorite coffee shop is Starbucks. This comes from a survey released yesterday by Level Money, a financial services company.
The survey of spending habits by those aged 18 to 35 looked at spending in what they are calling “vices”. These categories include coffee, alcohol and fast food. Almost 12 percent (11.7%) favor McDonald’s while Chipotle came in a distant second with 6.4% and Subway was third with 6.2%. The news was not all good for McDonald’s because they took last place in the amount spent on the average visit with only $6.96 coming out of the typical millennial wallet. Papa John’s is pulling $22.16 out of the same wallet when pizza is involved.
Starbucks has a commanding lead with 45.5% favoring them, more than three times those favoring second place Dunkin Donuts. A trip to Starbucks sets back the customer in this age group by $8.18 on average according to the survey.
According to Restaurant-Hospitality, an industry watchdog, coffee is a catch-all term for the entire family of beverages including lattes, frappes and mocha. They report millennials was added items such as whipped cream, steamed milk, chocolate chips or syrups. McDonald’s McCafé drinks have been created to meet this desire but based the Level Money survey does not rank McDonald’s in the coffee category.
Oklahoma is the state where fast food spending is highest for the generation. Almost 425 of Oklahomans frequent fast food twice per week or more. They are followed by Kansas and Texas. Vermont has the lowest annual spending at fast food restaurants in the generation.
Other generations currently worthy of marketing campaigns include Builders / traditionalists, also known as the greatest generation, born before 1944; Baby boomers, sometimes relabeled the sandwich generation, born between 1943 and 1964; Generation X, born between 1961 and 1980; and Generation Y, sometimes referred to as the millennial generation, born between 1977 and 2000.