Millennials and Generation Z are driving the latest f💦ood trends, with a significant focus on convenience, quality, and new experiences. But which generation spends more—and where are their dollars going? Are their habits shaped byꦗ social media trends, wellness, and sustainability? 

Let’s explore the latest data to understand how millennials and Gen Z are spending their money. We’ll also reveal whic🌺h generation isꦿ spending the most.

Food According to the Younger Generations

Millennials and Gen Z are redefining the dining experience with a mix of convenience, quality, and innovation. While there are similarities i🐽n the🍸ir preferences, different trends drive their food choices.

So, Who Spends More?

When it comes to 澳洲幸运5开奖号码历史查询:overall spending on dining out, millennials typically spend more than Gen Z. According to the 澳洲幸运5开奖号码历史查询:Bureau of Labor Statistics (BLS), millennials typically allocate more of their disposable income to food away from home, averaging $3,455 per year. This is higher than Gen Z, which spends significantly less on average, at $2,483 annually. However, Gen Z eats out more often than millennials, reflecting their preference for fast-casual, affordable options and frequent use of food delivery apps.

Other Financial Habits of Millennials vs. Gen Z

澳洲幸运5开奖号码历史查询:Both generations face financial 🦹challenges that affect how they prioritize spending and saving. Millennials, for example, have faced rising 澳洲幸运5开奖号码历史查询:student loan debt and higher home prices, which have led many to delay major life milestones. However, a study found that Gen Z's are going into more credit card debt than millennials when they were Gen Z's age. Gen Z's also opening more credit lines and experiencing more delinquencies. However, both generations are using 澳洲幸运5开奖号码历史查询:financial tools and apps.

• Debt Management: Gen Z often uses 澳洲幸运5开奖号码历史查询:Buy Now, Pay Later (BNPL) services, while millennials typically carry more traditional debt, including student loans and 澳洲幸运5开奖号码历史查询:mortgages.
• Self-Care & Wellness: Gen Z often sees self-care as essential, and some Zoomers see beauty rituals as crucial for 澳洲幸运5开奖号码历史查询:mental health. A survey found that, compared to older generations, Gen Z and millennials want to splurge on beauty, personal care, clothing, and jewelry.
• Lifestyle & Experiences: Gen Z often prioritizes experiences, such as travel and social events, often choosing those appealing to social media. Many millennials value experiences but also invest in long-term goals like 澳洲幸运5开奖号码历史查询:homeownership.
• Investment Behavior & Retirement Savings: Gen Z is often 澳洲幸运5开奖号码历史查询:drawn to digital assets like cryptocurrencies and NFTs, using tools like robo-advisors and Roth 澳洲幸运5开奖号码历史查询ꦡ:indiviꦐdual retirement accounts (IRAs). Millennials typically focus on 澳洲幸运5开奖号码历史查询:traditional investments like stocks, bonds, and real estate, and are committed to 澳洲幸运5开奖号码历史查询:long-term retirement savings, such as 401(k)s.

A Special Mention for Gen X

Though often overshadowed by millennials and Gen Z, Gen X (born 1965–1980) is actually the biggest spender when it comes to dining out. According to BLS data, Gen X spends an average of $3,872 per year on food away from home, outpacing millennials.

The Bottom Line

Millennials spend more on dining and self-care overall, but Gen Z dines out more frequently, favoring fast-casual options and delivery apps. Both generations are reshaping the restaurant i🃏ndustry, focusing on digital convenience, social media trends, and unique food experiences. 

While millennials prioritize quality, Gen Z’s frequent dining habits and emphasis on convenience will continue influencing food culture. Interestingly, Gen X, with higher earnings, outspends both generations on dining out. As all generations prioritize experiences over possessions, dining out remains a central part of their social and financial lives.