They are known as the ‘sensible generation’ and, unlike past generations, Millennials and Generation Z will find the prospect of a dry January a little less of a concern.
That’s because healthy living is higher on their agenda and they won’t let the absence of a few extra drinks alter their regular routine.
According to RSM’s latest consumer spending survey, Gen Z wants to splash out more on the treadmill and pumping iron.
Nearly half of the 2,000 people surveyed by the audit, tax and consulting firm said they have a gym membership. Of those, three quarters of all Millennials and Gen Z have at least one gym membership with both generations saying they don’t intend to let up using them.
Dry January is driven by Alcohol Change UK, a charity working for a society that is free from the harm caused by alcohol.
It is keen to avoid being seen as a party-pooper, more of a force for positivity and taking control.
“We are not anti-alcohol; we are for alcohol change. We are for a future in which people drink as a conscious choice, not a default; where the issues which lead to alcohol problems – like poverty, mental health issues, homelessness – are addressed; where those of us who drink too much, and our loved ones, have access to high-quality support whenever we need it, without shame or stigma.”
Gym clubs are one beneficiary of this lifestyle choice. Paul Newman, partner and national head of leisure and hospitality at RSM said: “Operators are reacting to the spending and lifestyle habits of the ‘sensible generation’.
“The increase in gym spend is being driven by niche operators. Certain groups, especially millennials, are attracted to specialist ‘drop in’ and ‘pay as you go’ fitness classes and boot camps in addition to their main club membership. I expect boutique fitness studios to become increasingly mainstream in the UK’s leisure landscape”
Further reasoning behind why these younger generations might prefer a non-alcoholic start to the year is backed up by their preference to spend less on going out. Nearly a third (27%) of all consumers said they’d rein it in on this front.
Instead nine in ten Millennials and Gen Z buy takeaways; just over a third of Millennials and 29% of Gen Z eat them at least once a week or more often; although consumers across the board said they were most likely to cut spending on takeaways (28%).
When it came to where consumers thought they would put their money next year, the top three were savings (21%), holidays (17%) and weekends away (13%).
A quarter of consumers across all generations said they had spent more on holidays in the past 12 months, with the same proportion planning to spend the same of more on travel and tourism in 2019 – a clear illustration of the wider experience economy that the high street will be competing with over the coming year.
Nearly 60% don’t see brands as an important factor when purchasing. Following this, over 50% say negative press coverage concerning a brand would prevent them from purchasing their products again. Finally, nearly 75% say they would avoid an outlet which had been reported for hygiene or food poisoning.
Defining the generations
Silent Age 73+ (born 1945 or before);
Baby Boomers age 54-72 (born 1946-1964)
Generation X age 38-53 (born 1965 – 1980)
Millennials age 24-37 (born 1981 to 1994)
Gen Z / Centennials age 18-23 (born 1995 to 2009)