A diverse food and beverage offer is highly important in the overall attractiveness of a retail location to young people, according to research from Savills. The firm’s research found that Generation Z (16-24 year olds) and Generation Y (25-34 year olds) rated choice of restaurants as 6.1 and 6.4 out of 10 respectively (where 10 is very important) in determining where to shop for fashion, compared to an average of 4.9 across all age groups.
This trend is even more pronounced in London, says Savills, where the importance of the F&B offer in choosing where to shop was rated as 7.2 by Generation Y and 6.2 by Generation Z. Across all age groups, the average importance rating was also highest in London at 6.1, followed by 5.0 in both Yorkshire & the Humber and the North East.
Savills also highlights that the less frequently a consumer shops, the more likely they are to visit a F&B operator on that trip. An average of 73.2 per cent of consumers who shop every two weeks visit a food outlet, dropping to just 31.9 per cent for those who shop at least once a week. Frequency of eating out while shopping also varies by geography and age group, and is highest among younger consumers. Savills says 17.8 per cent of Generation Z eat out while shopping once a week, compared to 11.1 per cent for the Baby Boomer+ group (55+ years). Again, this disparity is more prominent in London, where 27.8 per cent of Generation Z and 8.9 per cent of BabyBoomer+ visit a restaurant while shopping once a week.
Mark Simms, head of shopping centre agency at Savills, said: “In many cases the F&B offer is a significant factor in determining where consumers choose to shop and frequency of visits as well as having a positive effect on dwell time. In turn, this creates the opportunity for landlords and retailers to convert at least some of that into retail spend.”