Although Millennials are making the shift into marriage and child-bearing later in life than the generations that preceded them, they are increasing their grocery spending significantly as they form families.
Millennial parents report spending an average of $360 per month on groceries, 47% more than Millennials without children, who spend an average of $245 monthly.
These are some of the findings from the 14th Edition of "The Why? Behind The Buy," an annual report on the buying patterns and behaviors of grocery shoppers from CPG-focused sales and marketing firm Acosta.
As retailers and brands look ahead toward 2025, they need to understand the shopping characteristics of Millennials, who are less brand loyal than previous generations (but more price conscious), more mobile-dependent and driven by speed and convenience.
Overall, Millennials spend less on groceries than the top-spending Gen X age group, but they are gaining on Boomers, who are seeing their household sizes shrink.
By the numbers:
- Millennial average household size: 2.85 people
- Monthly grocery spend: $298
- Gen X average household size: 2.92 people
- Monthly grocery spend: $380
- Boomer average household size: 2.78 people
- Monthly grocery spend: $314
“Life stage dictates spending, putting Gen X on top for now, but Millennials will likely take over that spot within...
thumbnail courtesy of retailtouchpoints.com