Based on the information provided about what Gen Z is splurging on, here are the top 15 responses from young adults and Millennials on things they don't regret spending too much money on:
Food / Meals / Groceries: Young consumers consider regular food purchases worth the splurge due to convenience and the impact of inflation.
Video Games: Teens are splurging on video games, showcasing the importance of entertainment and the "Joy Economy."
Essentials: Despite rising prices, young consumers prioritize spending on essential items like food and beverages.
Quality Snacks and Drinks: Unique and high-quality snacks and beverages like those found at Trader Joe's or specialty sodas like Poppi and Olipop are becoming popular splurge items for young consumers.
Necessity and Joy: The driving factors behind food splurges are identified as necessity and the joy derived from indulging in quality meals and snacks.
Intense Joy: 91% of 13-39-year-olds are willing to spend more on items that bring them intense joy, reflecting a desire for experiences that enhance their well-being.
Dining Out: While groceries are a top splurge category, dining out remains a significant expenditure for young adults and Millennials.
Travel: Despite changes in travel behavior due to the pandemic, travel experiences are still valued by young consumers, who are willing to splurge on vacations and getaways.
Clothing: Apparel continues to be a category where young consumers are willing to spend more, especially on trendy and unique fashion items.
Technology: Tech products and gadgets also remain popular splurge items for Gen Z and Millennials, reflecting a strong interest in staying connected and updated.
Home Decor: Investing in home decor and furnishings is another area where young consumers are willing to spend extra to create comfortable and personalized living spaces.
Fitness and Wellness: Health and wellness products and services are considered worthy splurges, as young consumers prioritize their physical and mental well-being.
Self-Care: Products and experiences that promote self-care and relaxation are valued by young adults and Millennials, who see them as essential for maintaining balance and reducing stress.
Entertainment Subscriptions: Subscriptions to streaming services, music platforms, and other entertainment sources are common splurges among young consumers seeking diverse content and experiences.
Experiences: Overall, experiences that bring joy, fulfillment, and memorable moments are highly valued by young adults and Millennials, who are willing to invest in activities and events that enrich their lives.
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