Millennials Outspending Other Generations on Food

CHICAGO – According to the IRI Consumer Connect Survey, food and beverage sales among millennials were 21.5% higher in March 2019 compared to March 2018. That number fell 3.8% among retirees and baby boomers.

“Younger millennials have been lulled by the historically low unemployment rates, which is boosting their overall confidence and loosening their wallets,” said Joan Driggs, vice president of content and thought leadership for IRI. “At the other end of the spectrum, many baby boomers, retirees and seniors are concerned about their retirement savings due to the volatile stock market this year and are watching their expenses more carefully.”

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