Why Millennials, Landlords Love The American Food Hall
The popularity of America's burgeoning food hall market is on the rise.
The concept, which the New Yorker reports got its start in 2010 when an indoor market was opened in the basement of Manhattan’s Plaza Hotel, has spread quickly throughout the country. By the end of next year, Cushman & Wakefield anticipates there could be 300 U.S. food halls in total, up from 110 last year.
Food halls appeal particularly to the millennial generation, which favors experiences over things. Rather than offering big chains like traditional food courts, halls showcase local vendors and artisans, a factor millennials flock to because it allows them to capture unique moments on camera and later share them on social media.
Food halls are attractive to landlords because they provide a solid income and are a desirable amenity that attracts tenants.
Kiosk owners are still grappling over some issues with the food hall model. While food halls garner a healthy amount of foot traffic for operators, many have rules in place that prevent vendors from operating to their full capacity, only allowing them to offer certain products, the New Yorker reports. This can lead to both frustration and a loss of income for vendors.