Gen Z’s Hack to Save Money on Groceries
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Here's your money briefing for Monday, July 8th. I'm J.R. Whelan for The Wall Street Journal. To stay ahead of rising food prices, many families buy groceries in bulk at stores like Costco and Sam's Club. But some younger consumers are joining forces with their friends, roommates, even their neighbors to stretch their dollars.
One of the roommates I spoke to said that he spends $6 a week on groceries and he estimates the system is saving him $20 per week. It really depends on one's preferences and making sure the items that you're splitting with, whether it be chicken or massive boxes of mac and cheese, are things that the people that you're splitting with are also going to enjoy.
We'll talk to Wall Street Journal reporter Margot Amuol after the break.
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More customers at bulk grocery stores like Costco and Sam's Club are young people shopping for themselves and their friends. Wall Street Journal reporter Margot Amiwal joins me.
How are Gen Z and millennials using Costco and Sam’s Club to cut grocery costs?
Margot, how popular have these stores become among young people?
There is evidence to suggest that these stores are becoming more popular among Generation Z and millennials. And for the story, I looked at Costco and Sam's Club, which is owned by Walmart because those are the two biggest players in the game. So if we look at Sam's Club specifically, membership among Generation Z rose by 63 percent and millennials by 14 percent over the past two years, according to a Sam's Club spokesperson.
So when people are shopping, who's on their shopping list?
So if we look at the research, Advantage Solutions, it's a market research firm, and they conducted a survey in June of over 1,000 shoppers. And they found that slightly over half of these shoppers were shopping with roommates, neighbors, and friends. Splitting bulk groceries is still extremely popular with family, which is what one may traditionally think of when they think of a bulk shopper. And then in conversations I had, people were saying that often they were sharing these bulk groceries with their roommates. Because they could go to the grocery store together and then bring it back to the same apartment. They could cook together. They had it all in the same pantry. They knew each other's tastes and food preferences pretty well because they were living together.
What are they buying in bulk?
It depends on the person. One individual who I spoke with who is a college student who said that this whole system works extremely well for him. because they all have really similar tastes, and particularly they love chicken. So what they'll do is they'll go to Sam's Club and they'll buy massive containers of chicken together, and then they'll cook in all of its forms. They'll saute it, bake it, grill it, put it on top of rice. And this one individual told me that they never really have leftovers, and they're rarely rushing to finish the food because they love chicken so much.
Sounds like you need a spreadsheet to go shopping.
Yeah, you could. And there is somebody who did create one.
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