A report by Marketview looking spending at data from Paymark has concluded that Millennials spend far more on food than any other age group, with much of this spend coming from takeaways and food delivery services.
“That’s a really, really big jump for a group that possibly doesn’t have as much disposable income as older age groups would. They’re spending a lot more on eating and drinking out of the home,” said Marketview communications manager Madeleine Boles de Boer. “It’s a trend that we’re seeing with all of New Zealand, everyone’s buying more food and drinks out, takeaways, but millennials seem to be doing it more than anyone else.”
The report found that consumers in this age group allocate 20 per cent of their budget to eating out, while those over 30 allocate only 12 percent. De Boer admitted to expecting an increase in Millennial food spend, but not as large as it was – revealing some truth to the avocado-eating stereotype.