Research shows Millennials eat out more, buy groceries less

The weekend is almost here, and for many of us, dining out is a weekend ritual. 2/3 of Evolve’s employees are Millennials who happen to also be big foodies. We love to try out our local restaurants’ drink specials or special menu item. Are you one of those people? Have you ever thought about your everyday spending habits, especially when it comes to food?

According to a recent article posted on businessinder.com, Millennials spend 10.3% more dining out than Baby Boomers. The chart above shows the comparison of Millennials vs. three demographic groups. That is not to say that Millennials don’t like to cook, but they spend less at the grocery store than the older groups (Evolve employees can back those facts up)!

It is no surprise the purchasing habits of Millennials across all categories differ from the other groups especially compared to traditionalists. Do you notice a trend here? What will the spending habits of future generations look like?

Evolve’s two-cents:

• Millennials like to be social with their peers– restaurants/bars are a place to do just that!
• Millennials are adventurous and like to experience new things. They also tend to cook less and dislike eating leftovers.

Sources:

Article: http://www.businessinsider.com/millennials-consumer-spending-twice-as-much-at-restaurants-than-previous-generations-2017-7?utm_content=bufferbaec3&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer-bi

Chart data: Bank of America Merrill Lynch