GITNUXREPORT 2025

Millennial Spending Statistics

Millennials prioritize experiences, sustainability, and digital payment in spending habits.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

Our Commitment to Accuracy

Rigorous fact-checking • Reputable sources • Regular updatesLearn more

Statistic 1

Millennials account for approximately 27% of all consumer spending in the United States

Statistic 2

The average Millennial household spends about $13,500 annually on non-essential goods

Statistic 3

Over 60% of Millennials use digital payment methods such as mobile wallets or apps for their purchases

Statistic 4

Millennials are more likely than older generations to spend on experiences rather than possessions

Statistic 5

About 70% of Millennials prefer to shop online rather than in physical stores

Statistic 6

The average Millennial spends approximately $477 annually on dining out

Statistic 7

Millennials spend around $2,400 annually on tech and gadgets

Statistic 8

Approximately 55% of Millennials have used buy now, pay later services

Statistic 9

About 40% of Millennial consumers consider brand ethics and sustainability when making purchasing decisions

Statistic 10

Millennials are 20% more likely to spend on health and wellness products compared to older generations

Statistic 11

The average Millennial spends roughly $2,000 annually on travel and vacations

Statistic 12

Approximately 65% of Millennials purchase via mobile devices

Statistic 13

Millennial women spend an average of $1,300 annually on clothing and accessories

Statistic 14

Approximately 70% of Millennials prioritize experiences such as concerts, festivals, and travel over material possessions

Statistic 15

The average Millennial spends about $1,800 annually on pet-related expenses, including food, vet visits, and accessories

Statistic 16

Millennials are 25% more likely than Gen X to purchase eco-friendly and sustainable products

Statistic 17

Nearly 30% of Millennials prefer to use subscription boxes for fashion, beauty, and lifestyle products

Statistic 18

Millennials spend about $300 annually on gaming and entertainment products

Statistic 19

The average Millennial spends roughly $600 per year on environmental activism and donations

Statistic 20

50% of Millennials have made a purchase influenced by social media endorsements or reviews

Statistic 21

About 60% of Millennials are interested in minimalist and decluttered living spaces, influencing their spending on home goods

Statistic 22

The average Millennial spends $1,200 annually on skincare and beauty products

Statistic 23

Around 35% of Millennials have avoided certain brands due to ethical or sustainability concerns

Statistic 24

48% of Millennials have purchased items via flash sales and limited-time offers

Statistic 25

Millennial consumer loyalty is strongest toward brands that demonstrate social responsibility, with 70% showing brand loyalty when values align

Statistic 26

Nearly 60% of Millennials prefer personalized shopping experiences, impacting their purchasing behaviors

Statistic 27

About 45% of Millennials have used virtual reality or augmented reality in shopping or entertainment

Statistic 28

Approximately 40% of Millennials have adopted a minimalist wardrobe to reduce environmental impact

Statistic 29

65% of Millennials plan to purchase electric vehicles in the next five years, reflecting a shift towards sustainable transportation

Statistic 30

The average Millennial spends about $2,100 annually on entertainment subscriptions like Netflix, Spotify, and Hulu

Statistic 31

Millennials are 30% more likely than older generations to prioritize brands that are transparent about their sourcing and supply chain

Statistic 32

About 72% of Millennials utilize social media for shopping inspiration, influencing their spending choices

Statistic 33

Approximately 45% of Millennials have engaged in sustainability-related purchases in the past year, showing commitment to eco-conscious spending

Statistic 34

The average Millennial spends around $950 annually on fitness memberships or workout classes

Statistic 35

Around 40% of Millennials plan to allocate more budget to mental health and wellness services, reflecting increased prioritization of mental health

Statistic 36

Nearly 55% of Millennials have purchased organic food products, driven by health and sustainability concerns

Statistic 37

About 65% of Millennials prefer to shop at brands that support social causes, influencing their purchasing decisions

Statistic 38

About 50% of Millennials have a paid subscription service for streaming content

Statistic 39

About 55% of Millennials have taken financial advice from social media influencers

Statistic 40

Millennials spend an average of 35 hours per week on digital devices, influencing their online shopping habits

Statistic 41

Nearly 50% of Millennials have participated in crowdfunding for charitable causes or startups

Statistic 42

Only about 35% of Millennials have a household budget or financial plan

Statistic 43

The average annual expenditure on housing for Millennials is around $15,000, including rent and utilities

Statistic 44

Around 55% of Millennials keep a budget dedicated to travel, impacting their overall discretionary spending

Statistic 45

45% of Millennials plan to increase their spending on health and fitness services in the coming year

Statistic 46

Approximately 45% of Millennials have saved less than $10,000 for retirement

Statistic 47

Nearly 50% of Millennials have taken out student loans, with an average debt of $30,000

Statistic 48

Around 67% of Millennials are concerned about economic instability affecting their spending habits

Statistic 49

Nearly 40% of Millennials have invested in cryptocurrencies, with an average investment of $1,500

Statistic 50

Approximately 65% of Millennials have a side hustle or part-time gig to supplement their income

Statistic 51

Millennials are 15% more likely than older generations to use financial technology apps for budgeting and investing

Statistic 52

Approximately 55% of Millennials have financial goals related to early retirement or financial independence

Statistic 53

The average Millennial spends about $2,300 annually on health insurance premiums

Statistic 54

The average age at which Millennials buy their first home is 32 years old, higher than previous generations, indicating changing spending priorities

Statistic 55

Millennials allocate about 25% of their monthly income to savings and investments, indicating a focus on financial planning

Slide 1 of 55

Sources

Our Reports have been cited by:

Trust Badges - Publications that have cited our reports

Key Highlights

Millennials account for approximately 27% of all consumer spending in the United States
The average Millennial household spends about $13,500 annually on non-essential goods
Over 60% of Millennials use digital payment methods such as mobile wallets or apps for their purchases
Approximately 45% of Millennials have saved less than $10,000 for retirement
Millennials are more likely than older generations to spend on experiences rather than possessions
About 70% of Millennials prefer to shop online rather than in physical stores
The average Millennial spends approximately $477 annually on dining out
Only about 35% of Millennials have a household budget or financial plan
Millennials spend around $2,400 annually on tech and gadgets
Nearly 50% of Millennials have taken out student loans, with an average debt of $30,000
Approximately 55% of Millennials have used buy now, pay later services
About 40% of Millennial consumers consider brand ethics and sustainability when making purchasing decisions
Millennials are 20% more likely to spend on health and wellness products compared to older generations

Millennials are reshaping the consumer landscape with their unique spending habits, from investing heavily in experiences and technology to prioritizing sustainability and social responsibility—spending billions annually while navigating financial challenges and digital-driven shopping behaviors.

Consumer Preferences and Shopping Behavior

Millennials account for approximately 27% of all consumer spending in the United States
The average Millennial household spends about $13,500 annually on non-essential goods
Over 60% of Millennials use digital payment methods such as mobile wallets or apps for their purchases
Millennials are more likely than older generations to spend on experiences rather than possessions
About 70% of Millennials prefer to shop online rather than in physical stores
The average Millennial spends approximately $477 annually on dining out
Millennials spend around $2,400 annually on tech and gadgets
Approximately 55% of Millennials have used buy now, pay later services
About 40% of Millennial consumers consider brand ethics and sustainability when making purchasing decisions
Millennials are 20% more likely to spend on health and wellness products compared to older generations
The average Millennial spends roughly $2,000 annually on travel and vacations
Approximately 65% of Millennials purchase via mobile devices
Millennial women spend an average of $1,300 annually on clothing and accessories
Approximately 70% of Millennials prioritize experiences such as concerts, festivals, and travel over material possessions
The average Millennial spends about $1,800 annually on pet-related expenses, including food, vet visits, and accessories
Millennials are 25% more likely than Gen X to purchase eco-friendly and sustainable products
Nearly 30% of Millennials prefer to use subscription boxes for fashion, beauty, and lifestyle products
Millennials spend about $300 annually on gaming and entertainment products
The average Millennial spends roughly $600 per year on environmental activism and donations
50% of Millennials have made a purchase influenced by social media endorsements or reviews
About 60% of Millennials are interested in minimalist and decluttered living spaces, influencing their spending on home goods
The average Millennial spends $1,200 annually on skincare and beauty products
Around 35% of Millennials have avoided certain brands due to ethical or sustainability concerns
48% of Millennials have purchased items via flash sales and limited-time offers
Millennial consumer loyalty is strongest toward brands that demonstrate social responsibility, with 70% showing brand loyalty when values align
Nearly 60% of Millennials prefer personalized shopping experiences, impacting their purchasing behaviors
About 45% of Millennials have used virtual reality or augmented reality in shopping or entertainment
Approximately 40% of Millennials have adopted a minimalist wardrobe to reduce environmental impact
65% of Millennials plan to purchase electric vehicles in the next five years, reflecting a shift towards sustainable transportation
The average Millennial spends about $2,100 annually on entertainment subscriptions like Netflix, Spotify, and Hulu
Millennials are 30% more likely than older generations to prioritize brands that are transparent about their sourcing and supply chain
About 72% of Millennials utilize social media for shopping inspiration, influencing their spending choices
Approximately 45% of Millennials have engaged in sustainability-related purchases in the past year, showing commitment to eco-conscious spending
The average Millennial spends around $950 annually on fitness memberships or workout classes
Around 40% of Millennials plan to allocate more budget to mental health and wellness services, reflecting increased prioritization of mental health
Nearly 55% of Millennials have purchased organic food products, driven by health and sustainability concerns
About 65% of Millennials prefer to shop at brands that support social causes, influencing their purchasing decisions

Consumer Preferences and Shopping Behavior Interpretation

Millennials, wielding nearly a quarter of U.S. consumer dollars, are proving that spending on experiences, sustainability, and digital convenience isn't just a trend but a strategic shift towards more conscious and connected consumption.

Digital and Online Engagement

About 50% of Millennials have a paid subscription service for streaming content
About 55% of Millennials have taken financial advice from social media influencers
Millennials spend an average of 35 hours per week on digital devices, influencing their online shopping habits
Nearly 50% of Millennials have participated in crowdfunding for charitable causes or startups

Digital and Online Engagement Interpretation

Millennials' spending habits—ranging from binge-watching on streaming services and trusting social media influencers with their finances to dedicating vast hours online and engaging in crowdfunding—highlight a generation that's seamlessly blending digital engagement with both altruism and cautious financial navigation.

Financial Spending and Budgeting Habits

Only about 35% of Millennials have a household budget or financial plan
The average annual expenditure on housing for Millennials is around $15,000, including rent and utilities
Around 55% of Millennials keep a budget dedicated to travel, impacting their overall discretionary spending

Financial Spending and Budgeting Habits Interpretation

Despite the allure of jet-setting and a hefty $15,000 annual stake in housing, only about a third of Millennials are actually charting a financial course—suggesting many are navigating the modern youth's life of wanderlust and rent without a map.

Product and Service Preferences and Trends

45% of Millennials plan to increase their spending on health and fitness services in the coming year

Product and Service Preferences and Trends Interpretation

With nearly half of Millennials ready to boost their health and fitness spending, it seems the only thing they’re gym-ing more than they’re binging is their bank accounts—proof that health is wealth, or at least, a hefty investment in future wellness.

Savings, Investments, and Credit Utilization

Approximately 45% of Millennials have saved less than $10,000 for retirement
Nearly 50% of Millennials have taken out student loans, with an average debt of $30,000
Around 67% of Millennials are concerned about economic instability affecting their spending habits
Nearly 40% of Millennials have invested in cryptocurrencies, with an average investment of $1,500
Approximately 65% of Millennials have a side hustle or part-time gig to supplement their income
Millennials are 15% more likely than older generations to use financial technology apps for budgeting and investing
Approximately 55% of Millennials have financial goals related to early retirement or financial independence
The average Millennial spends about $2,300 annually on health insurance premiums
The average age at which Millennials buy their first home is 32 years old, higher than previous generations, indicating changing spending priorities
Millennials allocate about 25% of their monthly income to savings and investments, indicating a focus on financial planning

Savings, Investments, and Credit Utilization Interpretation

Millennials' financial landscape is a complex mix of cautious optimism and pragmatic prioritization, with many juggling student debt, an emerging reliance on fintech, and a disciplined yet cautious approach to retirement and property—from investing in cryptocurrencies to planning early financial independence—all amid fears of economic instability and rising health costs.