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Millennials Spend Less Per Person on Groceries

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Recent data released by the Department of Agriculture shows that millennials are spending less per person at the grocery store. A recent analysis by USDA’s Economic Research Service of 2014 grocery store data found that compared to older generations, millennial-headed households spent the least per person on food at home. However, like the other generations analyzed, millennial households with higher incomes tend to spend more on grocery store foods than millennial households with lower incomes. The data shows that millennials spend between $75 and $150 per month, per person, on groceries.

The data also shows that baby boomers spend between $125 and $200 per month, per person, on groceries. However, USDA notes that differences in food-at-home spending between the generations may reflect the younger generations’ stronger preference for eating out, which may change as they age.

Source: NAFB News Service