Highlights. Millennial* retail spending totaled $1.180 trillion in 2024.
- In the U.S., Millennial consumers account for 29.4% of all retail spending.
- Compared to the average retail shopper, Millennials spend 9.55% more.
- 66% of Millennial retail shopping is online.
- The average Millennial’s annual retail spending (including grocery) totals $32,089.
- Millennial winter holiday spending averaged $2,190 in 2025.
*In this report, “Millennial” refers to someone born between 1981 and 1996.
Millennial Shopping Statistics
Millennials spend a smaller portion of their income on consumer products and services than any other generation.
- The average total consumer spending (including housing) among Millennials amounts to $85,302 per year or 83.4% of their income before taxes.
- Millennial retail spending represents 37.6% of their total consumer spending and 27.0% of their income before taxes.
- Millennials head 26% of U.S. households and spend an average of $22,298 per household annually on retail and food service.
- Millennial-led households shop 683 times per year, spending an average of $33 per trip.
- 45% of Millennials carefully budget their finances, a 4.65% higher rate than any other generation.
| Item | Selected Spending | Share of Total Spending |
|---|---|---|
| Housing | $2,426.08 | 34.1% |
| Transportation | $1,238.00 | 17.4% |
| Food at home | $563.25 | 7.92% |
| Healthcare | $424.33 | 5.97% |
| Dinner out | $382.17 | 5.38% |
| Entertainment | $320.17 | 4.50% |
| Apparel and services | $207.58 | 2.92% |
| Education | $105.33 | 1.48% |
| Miscellaneous | $105.33 | 1.48% |
| Personal care | $87.92 | 1.24% |
| Alcoholic Beverages | $54.75 | 0.77% |
| Tobacco | $29.17 | 0.41% |
| Reading | $10.50 | 0.15% |
Millennial Online Shopping Statistics
Among online shoppers, Millennials are the generation most likely to use online shopping subscription services.
- 60% of Millennials shop online at least once per week.
- 34% of Millennial shoppers spend more online than in-store.
- 44% of Millennials spend more of their retail dollars in physical stores than online.
- 22% of Millennials shop online and in-store in comparable measure.
- Millennials are 21.4% more likely than the average American consumer to shop online more often than in-store.
- For higher-priced items, 31% of Millennials prefer to shop online.
- 80% of Millennials use online retail subscriptions, compared to 71% of all consumers.
- 26.4% of Millennials surveyed in 2024 made their last retail purchase online.
- 15.8% of Millennials surveyed made their last grocery purchase online; 21.9% made their last restaurant purchase online.
Millennial Social Media Shopping Statistics
Millennial consumers shop on social media more often than older generations.
- 67% of Millennials primarily discover new products and brands on social media.
- 33% of Millennials purchase products directly through social media platforms.
- 55% of Millennial shoppers do more product research on social media than on other websites.
- 26% of Millennial consumers have purchased an item based on a social media influencer’s recommendation.
- 38% of Millennials have contacted a brand directly on social media for customer service.
- 27% of Millennial social media users have tuned into live shopping events on social platforms.
- 16% of Millennials use social media platforms to search for product information or reviews, the highest rate of any generation.
Millennial Online Shopping Behavior
32% of Millennials have purchased products recommended by generative-AI tools, a higher rate than all other age groups.
- 20% of Millennials use and trust AI shopping tools on a regular basis.
- 75% of Millennials are interested in using AI shopping agents to help discover and purchase products.
- 65.7% of Millennial consumers were interested in using AI during the shopping process in 2024, compared to 51.2% of all consumers.
- Half of U.S. Millennial e-commerce consumers read customer reviews before making a purchase.
- 47% of Millennials shopping online have used a discount code or coupon at checkout.
- 30% of Millennials have engaged with chat support for online shopping assistance.
- 28% of Millennials have paid extra for faster shipping.
- U.S. Millennials’ favorite e-commerce product category is clothing, with 46% of consumers making purchases.
- 37% of Millennials purchase shoes online; 23% purchase accessories.
- 30% of Millennial consumers purchase food & beverages online, while 28% purchase cosmetics & body care products.
Millennial Clothing Shopping Statistics
Millennial consumers spend more on clothing for themselves and their children than other generations.
- Millennials spend an average of $187.14 per month on apparel, 28.4% more than American consumers on average.
- Women’s clothing accounts for $57.58 of a Millennial’s monthly expenditure, 9.34% more than consumers on average.
- Men’s clothing accounts for $30.58 of a Millennial’s monthly spending, 1.87% less than the average consumer’s.
- Footwear accounts for $49.58 of a Millennial’s monthly spending, 29.1% more than consumers on average.
- Clothing for children under 2 years of age accounts for $15.25 of a Millennial’s monthly spending, 137.7% more than consumers on average.
- Clothing for children 2 to 15 years of age accounts for $34.25 of a Millennial’s monthly spending, 101.5% more than consumers on average.
Millennial Grocery Shopping Statistics
Millennials spend more on groceries or food at home than other generations.
- Millennials spend an average of $129.98 per week on groceries, 8.60% more than the average consumer.
- Millennials spend an average of $6,759 per year or $563.25 per month on food at home.
- Meat, poultry, fish, and eggs account for $129.33 of the average Millennial’s monthly grocery budget.
- Millennials spend 13.9% more on poultry and 14.3% more on eggs than the average American consumer.
- Fruits and vegetables account for $84.75 of the average Millennial’s monthly grocery spending.
- Millennials spend 3.66% more on fresh vegetables and 10.4% more on fresh fruits than the average consumer.
- Cereals and bakery products account for $71.08 of the average Millennial’s monthly grocery spending.
- Millennials spend 15.4% more on cereals than the average consumer.
- Dairy products account for $56.92 of the average Millennial’s monthly grocery spending.
- Millennials spend 8.41% more on fresh milk and cream than the average consumer.
- Other grocery products account for $221.17 of the average Millennial’s monthly grocery spending.
- Millennials spend 10.4% more on fats and oils than the average consumer.
- 69% of Millennials enjoy international-inspired food items, more than any other generation.
Millennial Holiday Shopping Statistics
Millennials spend more on the winter holidays than any other generation.
- Millennial consumers planned to spend an average of $2,190 for the winter holidays in 2025.
- Millennials had an average holiday budget of $2,222 in 2024, up 15.8% YoY.
- An estimated $1,358, or 62.0% of the average Millennial holiday budget, was for gifts.
- In 2023, Millennials had an average holiday budget of $1,918, up 5.21% YoY.
- Millennial consumers planned to spend 62% of their holiday budget on gifts for their family over the 2025 holiday season.
- 15% of Millennials expected to use AI to find holiday gift ideas in 2025.
- 55% of Millennials planned to travel during the 2025 winter holiday season.
| Item | Change in Spending | Change in Share of Total Spending |
|---|---|---|
| Healthcare | 13.5% | 8.57% |
| Reading | 12.5% | 7.60% |
| Miscellaneous | 7.57% | 2.89% |
| Personal care | 7.00% | 2.34% |
| Food at home | 6.11% | 1.49% |
| Transportation | 6.05% | 1.43% |
| Housing | 3.68% | -0.83% |
| Apparel and services | 2.34% | -2.11% |
| Dinner out | 2.23% | -2.22% |
| Tobacco | 0.29% | -4.08% |
| Entertainment | -0.36% | -4.70% |
| Education | -1.94% | -6.2% |
| Alcoholic Beverages | -7.07% | -11.1% |
Millennial Spending Statistics
Most Millennials use credit cards and/or loyalty programs to pay for at least some of their retail purchases.
- 82% of Millennial consumers prefer contactless digital payments.
- U.S. Millennials have an average of 3.4 active credit cards per person.
- In 2024, 39% of Millennials reported using Buy Now, Pay Later.
- Millennials are 144% more likely than the average shopper to use BNPL.
- Millennials are 10% more likely than the average consumer to have a brand or retailer credit card.
- 28.0% of Millennials used mobile wallets to pay merchants at point-of-sale (POS) for their most recent in-store transaction.
- Millennials are 25.5% less likely to use mobile wallets to pay merchants at POS than Generation Z (35.2%) and 73.6% more likely to do so than Generation X (18.9%).
Millennial Brand Loyalty Statistics
The Millennial Generation is the most concerned about a brand or retailer’s sustainability and environmental impact.
- 78% of Millennials will pay more for a product when they trust the brand.
- 49% of Millennials are more likely to trust a brand that creates high-quality product content online.
- 47% of Millennials believe companies should take a stance on social issues.
- 59% of Millennials have recently purchased a product because a small business was selling it.
- 49% of Millennials have made a recent purchase because of the brand’s commitment to diversity or inclusion.
- 63% of Millennial consumers would switch brands for a lower price.
- 31% of Millennials have stronger commitments to brands that align with their values.
- 19% of Millennials exhibit strong brand loyalty and rarely switch brands.
- 16% of Millennial consumers switch brands frequently and enjoy exploring new options.
- 74% of Millennials believe companies should be environmentally sustainable.
- 47% of Millennials consider sustainability and ethical sourcing when shopping for apparel.
- In 2024, 51.5% of Millennials shopped for secondhand items more often than the previous year.
Most Popular Brands Among Millennials
Apple is the most popular brand among Millennials, with 17% citing it as their favorite consumer brand.
- Amazon is the favorite brand of 16% of Millennials and the most popular online retailer.
- Nike is 13% of Millennials’ favorite brand and the most popular clothing brand among consumers in this generation.
- Aldi is the most popular grocery store among Millennials, with 70% having a positive opinion of the company.
- Millennial consumers spend the highest share of their retail dollars (14%) at Walmart.
- Amazon accounts for 12% of Millennial retail spending; Target accounts for 7%.
Millennial vs. Generation Z Shopping
While Millennials spend more than Generation Z [b. 1997 or later (aged 18+)], they spend a smaller portion of their income before taxes in most retail categories.
- Millennials’ total consumer expenditures are 55.6% higher compared to Generation Z’s consumer expenditures.
- Millennials’ consumer expenditures amount to a 16.9% smaller portion of their income before taxes than Gen Z’s.
- Millennials spend a 7.02% smaller portion of their income before taxes on general entertainment and a 21.8% smaller portion on vehicle purchases compared to Gen Z consumers.
- The average Millennial spends 30.0% less of their pre-tax income on tobacco and 24.5% less on alcoholic beverages.
- Compared to Generation Z, Millennials spend a 71.5% smaller portion of their income on education and a 19.9% smaller portion on apparel and services.
- The average Millennial spent 61.4% or $833 more than Generation Z shoppers for the 2025 holiday season.
Millennial vs. Generation X Shopping
Generation X consumers outspend Millennials in most retail categories.
- Millennials’ total consumer expenditures are 12.0% lower compared to Generation X’s consumer expenditures.
- Millennials’ consumer expenditures amount to a 3.77% smaller portion of their income before taxes than Gen X’s.
- Millennials spend a 2.05% smaller portion of their income before taxes on alcoholic beverages and a 1.77% larger portion on reading compared to Gen X consumers.
- The average Millennial spends 7.66% less of their pre-tax income on tobacco and 23.7% more on vehicle purchases than Gen X consumers.
- Compared to Generation X, Millennials spend a 71.5% smaller portion of their income before tax on education, a 16.2% larger portion on housekeeping supplies, and a 0.16% smaller portion on miscellaneous items.
- The average Millennial spent 47.7% or $707 more than Generation X shoppers for the 2025 holiday season.
Millennial vs. Baby Boomer Shopping
While the average Millennial spends more than the average Baby Boomer, they spend a smaller portion of their income on household supplies and furnishings.
- Millennials’ total consumer expenditures are 23.1% higher compared to Boomers’ expenditures.
- Millennials’ consumer expenditures amount to a 13.3% smaller portion of their income before taxes than Boomers’.
- Millennials spend an 8.82% smaller portion of their income before taxes on vehicle purchases and a 20.1% larger portion on apparel and services compared to Baby Boomer consumers.
- The average Millennial spends 25.4% less of their income before taxes on reading than the average Boomer.
- Compared to Boomers, Millennials spend a 37.2% smaller portion of their pre-tax income on housekeeping supplies and 17.4% less on entertainment.
- The average Millennial spent 85.6% or $1,010 more than Baby Boomer shoppers for the 2025 holiday season.
Millennial vs. Silent & Greatest Generation Shopping
Because the remaining population is relatively small, the Silent and Greatest Generations (b. 1945 or earlier) have been combined into one category for statistical purposes.
- Millennials’ total consumer expenditures are 66.8% higher compared to expenditures among the Silent/Greatest Generations.
- Millennials’ consumer expenditures amount to a 31.0% smaller portion of their income before taxes than that of the Silent/Greatest.
- Millennials spend a 5.66% larger portion of their income before taxes on tobacco compared to Silent & Greatest Generation consumers.
- The average Millennial spends 85.4% more of their income before taxes on vehicle purchases, 34.3% more on apparel and services, and 14.8% less on alcoholic beverages compared to the Silent/Greatest.
- Compared to the Silent/Greatest, Millennials spend a 46.7% smaller portion on housekeeping supplies and 27.6% less on miscellaneous items.
These data and insights were compiled by the Capital One Shopping team based on publicly available data.
Sources
- Statista, Industry Overview
- HubSpot, How Each Generation Shops
- U.S. Bureau of Labor Statistics, Consumer Expenditures
- PwC, Holiday Outlook
- Experian, What Is the Average Number of Credit Cards?
- PYMTS, Retail News
- Numerator, Millennial Consumer Behavior
- Mintel, US Gen Z and Millennial Online Shopping Behaviors
- Salsify, Consumer Research Report
- Adyen, Knowledge Hub