What about Generation X? Although this resilient set of consumers is not as large as their cohorts, their spending power is predicted to grow in the years to come. These are the latest statistics from the Brightfield Group Consumer Dashboard.
A generational snapshot
Born between 1965 and 1980, Generation X makes up roughly one-quarter (26.4%) of survey respondents. Most live in the suburbs (41.8%), and more than half are married. Most members of Generation X either have no children (35.5%) or have children who are now grown up.
When it comes to media coverage and marketing, Generation X often gets less attention than baby boomers and millennials because of the group’s size.
“When Generation X entered the workforce, the baby boomers outnumbered them and had more power and influence — and they never left,” Marcus Collin, professor of marketing at the Ross School of Business, told Institute of Nutrition. “Like gen
Today, Generation X accounts for just 28% of the nation’s wealth, while baby boomers hold more than half (52%), according to recent data from the Federal Reserve. However, as Investopedia report, over the next two decades there will be a large transfer of wealth—altogether, about $84 trillion—from baby boomers to younger generations including their Gen X children.
Food and drink favourites
When it comes to eating and drinking, Gen X preferences reveal a balance between fresh foods and classic delights.
In line with the rest of US consumers, Gen X likes to snack — 81% bought snacks and candy bars last year. In addition to chips, their first actions include peanut butter (47.2%), popcorn, packaged cookiesand conventional chocolate bars.
Other general foods that top Gen X’s grocery list include chicken (53.1%), plain ice cream, frozen fruits and vegetables, and red meat, especially beef and pork.
Popular drinks range from regular soda (43.4%) to 100% orange juice and bottled natural spring water. After beer, wine is their favorite alcoholic drink.
“Gen X consumers are showing an increasing interest in craft beers, locally produced spirits and premium coffees,” Nazim Almasi, a Muslim food scholar and author, told Institute of Nutrition. “They are looking for unique flavor profiles and experiences, valuing quality over mass-produced beverages.”
Wellness Interests and hobbies
The conditions with the greatest needs among Generation X are relaxation (54.4%) i digestive system health (51.1%). Their favorite hobbies include watching TV and movies (39.8%), listening to music and reading.
Furthermore, 78.6% of Gen Xers believe that exercise is important for mental health.
Walking in second place (29.8%) as a favorite hobby. It is also their preferred form of exercise by a significant margin (72.8%), followed by weight lifting (23.7%), running and cycling.
Health and food preferences
The majority of respondents (50.3%) claimed they do not correspond to one particular diet. However, low sugar received the most mentions (24.2%), followed by low carb.
Sugar content has also played a key role in what these customers look for in food and beverages. Among ingredient preferences, no added sugar (43.6%) took the lead, with without artificial sweeteners and without high fructose corn syrup also ranked in the top five.
Low sugar content was also the top claim these customers were looking for, followed by high protein content and low sodium. Generation X also looks for food that is made with real (41.9%) or all-natural ingredients. They gravitate towards health claims related to hydration (36.9%), gut healthand raising energy.
“Generation X consumers place a strong emphasis on overall well-being, including physical, mental and emotional well-being. They are looking for products and services that promote stress reduction, better sleep and increased energy levels,” said Almasi. “Holistic wellness approaches, including mindfulness practices and complementary therapies, are (also) gaining traction among this demographic.”