You might have heard that millennial earn less and therefore spend less money than older consumers. While this was true for a number of years, it seems that millennial are now outspending older consumers in terms of food dollars. A likely explanation for this is that older generations are using money-saving tactics that help manage their food bills, something their counterparts haven’t had the life experience to learn yet.

Younger millennial may feel secure with the current low unemployment rates which may boost their confidence to spend more, even on groceries. On the other end of the spectrum, baby boomers may be concerned about their future retirement savings and are therefore watching what they spend their money on more carefully. In recent years, millennials have been less enthusiastic about spending than older consumers but the roles are slowly reversing.

In March of this year, millennial food spending increased by more than 21 percent, compared to previous years. On the other hand, spending went down almost four percent for retirees and seniors during that same period.

Some of the money saving tactics older consumers employee include buying private label and trying new, lower-priced brands, according to this article by CandyUSA.

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