This millennial spending infographic by Level Money helps us visualize the vices of young America: frappuccinos, fast food and tequila Tuesdays.
It's hard to blame the millennials for their bad habits; how can we, when there's a Starbucks on every corner and we've been raised to believe Big Macs constitute a well-balanced meal? Now that the millennial generation -- those born between the late 80s and mid-90s -- are approaching "adulthood," they have more financial freedom. So, what are they spending their hard-earned cash on? Level Money gathered and analyzed information from January to July to see how millennial spending differs from state to state.
It looks like Oklahoma millennials might have to start worrying about an expanding waistline, because they're the state that spent the most on fast food: a whopping $1,193.55 annually. Massachusetts, Colorado, and New York millennials dished out the most for booze, meaning that their beer bellies may already by underway.
Millennial Spending Infographics
This Infographic Measures Millennial Vices
Trend Themes
1. Millennial Spending Habits - Opportunity to create healthier alternatives to fast food and innovative alcoholic beverages for millennials.
2. Regional Differences in Millennial Spending - Opportunity to tailor marketing and product offerings to specific states based on their spending habits.
3. Financial Freedom of Millennials - Opportunity to develop financial tools and services for millennials that align with their spending behaviors.
Industry Implications
1. Fast Food Industry - Opportunity to introduce healthier fast food options targeted specifically towards millennials.
2. Alcoholic Beverage Industry - Opportunity to create innovative and unique alcoholic drinks that cater to the preferences of millennials.
3. Financial Technology Industry - Opportunity to develop mobile apps and financial management tools that support millennials in tracking and managing their spending habits.