Millennials and Gen Z's trendy new splurge: groceries

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Groceries are the hottest new splurge category for Gen Z and millennials. Younger generations spend more on groceries than other categories, according to McKinsey. Inflation is impacting all generations, meanwhile, leading to higher grocery expenses. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Splurging once meant spending money on buzzy restaurants, expensive vacations, and designer clothing. These days, it has succumbed to a more humble category. Groceries are shaping up to be a top spending priority for younger generations, according to a February report from McKinsey & Company. The firm asked over 4,000 people, from baby boomers to Gen Xers, about the categories they intend to splurge on this year. Groceries ranked highest for millennials and Gen Zers, outpacing restaurants, bars, travel, beauty and personal care, apparel, and fitness. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .