A new Lifesum report demonstrates that the under-40 crowd is increasingly willing to cut back on perks like Netflix in favor of healthy food. Gen Z and Millennial consumers are prepared to scale back on non-essentials such as Netflix in favor of spending their hard-earned dollars on healthy food, according to new research from Lifesum, a healthy eating app.
The platform’s 2024 State of Healthy Eating and Well-Being Report found that despite increasing living costs, the majority of Gen Z and Millennials are willing to reprioritize spending on fashion (62%) and tech and gadgets (55%) to allocate more of their wallet share to healthier food. Lifesum also found that 37% are willing to cut down on online courses, 36% would ax streaming services such as Netflix and Hulu, followed by 34% who would trim travel spending. Thirty percent would reduce skincare and beauty spending.
“In this era of escalating costs, luxuries become dispensable, but a nourishing, balanced diet does not,” said Signe Svanfeldt, lead nutritionist at Lifesum. “While entertainment and gadgets have their appeal, it’s healthy food that Gen Z and Millennials prioritize in their hectic lifestyles.” The well-being and healthy eating app points out that for young consumers, healthy eating is now considered an affordable indulgence compared to other experiences, such as traveling. Investing in nutrition at a young age can reduce healthcare costs down the line, which looks to be important for those in the 20 – 40 age range; one study suggests that 40% of Gen Z and Millennials expect to live to 100.
“As the cost-of-living crisis continues, health is becoming a significant focus and reflects a growing desire for self-care and responsible spending,” Signe said.
Using food as fuel to hit health objectives is another area that young consumers have embraced, with 73% consuming functional foods to boost energy levels, 61% to improve mental well-being and 40% to stimulate better sleep.
Protein powders may be king of the nutritional aisle, but new products have found their way into consumers’ shopping carts, both in-store and online. From adaptogenic sparkling tonics, “clean caffeine” coffee alternatives, mushroom-infused wellness products for longevity, recovery and relaxation, startup food and beverage brands are infusing ingestibles with good-for-you nutrients that cater to Gen Z and Millennials.
