Millennials Spend More on Fast-Moving Consumer Goods
Millennials are flexing their buying power, spending more on fast-moving consumer goods (FMCG) per trip than any other generation according to recent research conducted by The Nielsen Company.
FMCG are defined as products that are sold quickly and at a relatively low cost, such as packaged foods, beverages, toiletries and other consumables. They are small scale consumer purchases, but account for a significant percent of consumer spending.
As millennials transition into parenthood and as their families grow, they are spending more on baby care, family planning, and food categories. Research suggests that despite spending more on FMCG, Millennials currently are shopping less often than other generations.
Additional findings include:
- Frozen breaded chicken leads in the food category, showing that millennials spend 83% more on this product than the total US population, followed by lunch combination (76%), shelf-stable breakfast (60%), shelf stable chocolate drinks (60%), insulated containers (50%) and boxed prepared dinners (50%).
- Data suggests that many millennials are paying full price for FMCG items and spend only 21% of their FMCG money on products marketed as being on promotion.
For additional insights from The Nielsen Company, click here.