Millennials Food Survey: Spending Habits and Preferences
When it comes to money saving, Gen Z is definitely falling short. According to recent statistics, majority of millenials have less than $1k in their savings accounts which is definitely less if we compare it with their parents or forefathers. One of the biggest reasons why millenials always lack in savings is their inclination towards food. The eating habits of present-day millenials have also changed dramatically in recent times.
The trend of eating out is also on the rise. According to the National Restaurant Association findings, the restaurant industry sales will hit a high of $863 billion in this year which is 3.6% more if we compare it with last year’s statistics.
A recently conducted Walmart Survey suggests that millenials spend more on comforts and amenities than any other generation. They don’t mind paying hefty sum on coffee, extravagant dinner or a lavished lunch with their friends.
Over 60% admit to spending over $5 on coffee whereas 80% splurge to dine out at the fancy restaurant in town.
Fad Diet Trend
With increased awareness about healthy eating and emergence of numerous fad diets including Keto, Paleo and Gluten-free options, millenials tend to allocate a huge portion of their monthly budget on food they consume. While there is a sharp ascending trend in terms of dining out, the shopping choices of these individuals have shown surprising results.
Over 50% millenials prefer to spend their money on specialized diet food that is low in sodium and sugar. Also, there is a rising trend of purchasing sugar-free desserts and ice-creams which are healthier substitute to the full-fat unhealthy variants.
Many millenials still prefer to purchase donuts or croissants on the go along with a coke can or a cup of coffee. While a certain group likes to stick to green leafy salads, berries and fresh juices to start their day. Another significant trend prevalent in millenials is that they prefer cooking their own meals instead of relying on someone else for their food. They’re experimental and want to incorporate the element of creativity into their cooking skills.
Low carb diet or strict protein diets are yet another prominent options without which the Gen Z can’t survive. Grilled food, barbeques and other meaty, protein-rich foods are amongst some of the top preferences of millenials on which they don’t even hesitate to pay a huge sum of money.
Food without flour is yet another trend that has gained momentum in recent times. Wheat-free goodies and gluten-free stuff has also entered market not just because they’re suitable for people with wheat allergies and gluten intolerances, but also because many millennial consider white flour as a biggest offender and one of the obstacles that can inhibit their way in achieving an active and productive lifestyle.
This is perhaps the biggest reason why more and more companies are investing on specialized food items that are pure and contamination free.
Declining Trend of Junk Food
Don’t be surprised, it’s a fact that today’s millenials are more sensitive and aware than ever before. With latest innovations in the field of medicine, it’s now easy to detect various types of food allergies that if not handled in time can cause bigger troubles in the future. Millenials are well aware of the fact that they have to get themselves checked for food allergies and should avoid certain ingredients that can impact the quality of their life.
This is one of the reasons why prominent chain restaurants are trying to come up with the healthier substitutes to their full-fat meals. Whether it’s a lettuce or bun-less burger, sweet potato fries or frozen yogurt instead of heavy, unhealthy ice-cream scoops, millenials certainly know how to keep themselves fit and healthy.
Preferring Healthy Beverages than Alcohol
As mentioned above millenials these days are well-informed and conscious than ever before. While there’s a certain group who still prefers to stick to alcohol-based drinks, a lot of young individuals are now switching to healthier drinking choices. Iced teas, fresh juices and fresh limes has significantly replaced the use of alcohol and other unhealthy drinks and beverages. Today you’ll find many millenials indulging in wines and beers only when they want to celebrate a special moment or an event.
All in all, unlike previous generations who were more into unhealthy eating choices, full fat options and lots and lots of carbs, millenials make smart choices in terms of food leading to more expenditure as fad diets and specialized food is considerably pricey than other unhealthy low-priced alternates.
Recent food surveys also suggest that the majority of millenials has used the word ‘health’, ‘healthy eating’ ‘carbs-free’ and ‘gluten-free’ in their responses, meaning they’re least interested in the product itself and want to spend more on the healthy eating experience.
The author of the above content is Kazim Raza who is currently working as a Digital Marketing manager at SkWebDesigningSolutions based in Orlando, Florida.