Findings:
Yelp’s 2023-2024 trend report highlights a rise in women-owned businesses, dubbed the “sheconomy,” with a 17% increase in new openings across various sectors, especially in food and beverage.
Three emerging drink trends: book bars, multicolored matcha drinks, and “sleepy girl mocktails.”
Key Takeaway: Women-owned businesses are growing rapidly, shaping new trends in hospitality, food, and drink, while female-focused communities like BookTok influence spaces where women gather and socialize. These trends reflect a mix of culture, health, and community interests.
Trends:
Book Bars: Searches for book bars increased by 102%, driven by BookTok and a rise in romance literature, offering cozy environments for women to socialize.
Multicolored Matcha Drinks: Searches for orange matcha spiked 595%, with other flavors like strawberry, blueberry, and lavender also growing in popularity.
Sleepy Girl Mocktails: A TikTok trend featuring magnesium and tart cherry juice as a sleep aid contributed to a 74% increase in magnesium searches.
Consumer Motivation: Women, especially those participating in online communities like BookTok, are seeking spaces that combine socializing, wellness, and personal interests. Health-conscious behaviors, especially those focused on natural remedies like magnesium and antioxidant-rich drinks, are a significant driver behind beverage trends.
What’s Driving the Trend:
The rise of women entrepreneurs and female-oriented online communities.
The desire for holistic health solutions like mocktails for sleep and functional beverages (matcha and magnesium-based drinks).
Solo dining trends and a preference for curated, community-driven spaces such as book bars.
People Referred to in the Article:
Rachel Yon Choi, Behavioral Analyst at Canvas8: Discusses the connection between BookTok and the rise of book bars.
Lena Bakovic, Registered Dietitian: Offers insights into the health benefits of magnesium and tart cherry juice.
Description of Consumers’ Product or Service:
Book Bars and Bookstore Cafes: Catering to book lovers and solo diners, with an emphasis on female patrons seeking a community space.
Multicolored Matcha Drinks: A colorful, trendy twist on matcha appealing to wellness-oriented individuals.
Sleepy Girl Mocktails: Health-conscious consumers seeking natural sleep aids, popularized by social media.
Consumer Age: The trends appear to be driven by younger women, particularly those active on social media platforms like TikTok, with an interest in wellness, community spaces, and functional beverages.
Conclusions:
Women-owned businesses are thriving, particularly in the hospitality and wellness sectors.
Emerging drink trends reflect consumer desires for functional, health-focused beverages and community-driven spaces.
Social media, especially platforms like TikTok and BookTok, play a crucial role in shaping consumer habits and business trends.
Implications for Brands:
Brands can capitalize on these trends by offering products or services that cater to women and wellness-focused communities.
Creating spaces that promote socialization, like book bars or bookstore cafes, could attract customers looking for niche, community-driven experiences.
Emphasizing transparency in health benefits for trending drinks like matcha and mocktails can build trust with consumers.
Implications for Society:
The rise of the sheconomy highlights the growing influence of women entrepreneurs, reshaping local economies.
Female-centric spaces, both online and offline, foster community and connection, reflecting broader societal shifts toward inclusivity and community-building.
Implications for Consumers:
Consumers, especially women, are increasingly seeking spaces and products that offer both community and wellness benefits.
Health-conscious trends, like the sleepy girl mocktail, demonstrate a shift toward natural, functional beverages that promote well-being.
Implications for Future:
The influence of women-owned businesses is likely to continue growing, especially in sectors tied to hospitality, wellness, and community experiences.
Trends like BookTok and sleep-enhancing mocktails signal a future where social media continues to heavily influence consumer choices.
Consumer Trend:
Wellness-focused and community-oriented spaces, like book bars and matcha cafes, are growing, especially among younger women.
Functional, health-conscious drinks, such as multicolored matcha and sleepy girl mocktails, are becoming more popular.
Consumer Sub Trend:
Solo dining and individual experiences are gaining traction, with consumers looking for spaces like bookstore cafes that cater to their personal interests.
The desire for holistic, natural sleep solutions, such as magnesium-enhanced drinks, reflects a health-first mindset.
Big Social Trend:
The rise of the “sheconomy,” driven by the growth of women-owned businesses and female-focused spaces, is creating new economic and social dynamics.
Worldwide Social Trend:
Social media-driven communities, such as BookTok and TikTok, are influencing global consumer behavior, particularly among younger demographics seeking both community and wellness.
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