The rise of 'bougie foodies'
Gen Yers and Zers are prioritising groceries above other spending categories. When asked what they intended to treat themselves with over the next three months, over a third of respondents said they expected to splurge on food. This desire to splash out on groceries comes at a time when young people are using treat culture as a primary coping mechanism amid economic instability – and in particular, to find ways of treating themselves when personal finances feel more stretched. In the UK, pay growth, excluding bonuses, fell from 7.3% to 6.6% in the three months to November, while a report from ZipRecruiter found that 48% of US companies lowered pay for certain roles in 2023. The desire to splurge on premium snacks also comes as some food and drink brands offer social and cultural currency. Torres crisps and Perello olives have become synonymous with East London creatives, as brilliantly displayed by The Real Housewives of Clapton, while Trader Joe’s has become a shopping status symbol among Americans, thanks in part to its aesthetic and online haul culture that sees shoppers share their favourite foodie finds.
With the cost of living front of mind, experiences that create a sense of decadence from affordable products represent opportunities for affordable escapism. In December 2023, Greggs opened a fine-dining pop-up called Bistro Greggs as part of a collaboration with department store company Fenwick. The restaurant featured French-inspired twists on the chain’s menu items, bringing a more indulgent feel to customers looking for little treats during the festive season. Meanwhile, the popularity of caviar on Doritos offers a sense of accessible and subversive indulgence that doesn’t heavily impose on people’s finances.
