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Although 57 percent of Millennials said they had been personally affected by the Great Recession, just 8 percent reported cutting their spending on groceries, according to results of an industry study profiling Millennial grocery shoppers from Retale, a location-based mobile advertising platform for retailers and brands.
Using the Great Recession, which fundamentally changed consumer shopping and saving habits, as the basis for its commissioned study, Retale evaluated recessionary impact on grocery buying, specifically among survey respondents.
When the study, which examined grocery shopping preferences among 1,000 consumers in the 18-34 age group between May 2-6, compared older Millennials (26-34) with younger Millennials (18-25) , the older group felt more affected by the economic downturn (64 percent). When asked which activity they were most likely to cut spending on as a result of the recession’s impact, 36 percent cited “eating out,” 30 percent said “entertainment,” and 21 percent said “buying clothes.”
“Like most age groups, Millennial consumers have felt the recession’s impact,” said Pat Dermody, president of Chicago-cased Retale. “According to our data, to counteract it and save, they’re dining out less and opting to eat at home more. This is why there hasn’t been a sizable decline in grocery shopping, post-recession. Lost restaurant trips should ultimately benefit grocery retailers.”
When asked how often they shop for groceries, respondents most often answered two to three trips a month (34 percent), followed by once a week (29 percent), once a month (15 percent), two-four trips a week (14 percent), less than once a month (6 percent), and every day (3 percent).
For each trip, on average, 20 percent of Millennials spend 0-$49, 37 percent spend $50-99, 35 percent spend $100-200, and only 9 percent spend more than $200.