{"id":236621,"date":"2024-06-26T12:24:45","date_gmt":"2024-06-26T12:24:45","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/06\/26\/boomers-not-millennials-are-the-generation-buying-the-most-avocados\/"},"modified":"2025-06-25T17:16:07","modified_gmt":"2025-06-25T17:16:07","slug":"boomers-not-millennials-are-the-generation-buying-the-most-avocados","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/06\/26\/boomers-not-millennials-are-the-generation-buying-the-most-avocados\/","title":{"rendered":"Boomers\u2014not millennials\u2014are the generation buying the most avocados"},"content":{"rendered":"

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But new research has shown Boomers are actually overwhelmingly the shoppers who are picking up the fruit<\/a>\u2014and are enjoying it for breakfast, lunch and dinner. <\/p>\n

The report from the World Avocado Organization (WAO) found that 28% of avocado purchases in the U.K.<\/a> were made by people aged 65 and older, with a further 19.3% being eaten by those aged between 55 and 64. <\/p>\n

That translates to older boomers buying<\/a> nearly 17,000 tonnes of avocados a year, while people under 34 consumed around 10,000 tonnes.<\/p>\n

Those aged between 35 and 44\u2014some of whom still fall into the millennial category\u2014also purchased a significant amount of the items. They accounted for 20% of the buyers\u2019 share of the U.K. market, spending around $40 million on the items per year.<\/p>\n

The findings fly in the face of criticism often thrown at millennials\u2014currently aged between 27 and 42\u2014who have been accused of splurging on mini luxuries instead of saving for financial milestones<\/a> like properties.<\/p>\n

The debate began in 2017 when Australian millionaire Tim Gurner said first-time buyers would struggle to get on the property ladder because they were spending too much money on \u201csmashed avocado and coffee.\u201d Gurner, who made his money as a luxury property developer in Melbourne, added that younger generations were making \u201clifestyle\u201d decisions that were preventing them from getting on the property ladder<\/a> as quickly as he had.<\/p>\n

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Tim Gurner believes our housing crisis will be resolved when young Aussies inherit the ‘incredible wealth’ from the Baby Boomers. #60Mins<\/a> pic.twitter.com\/iET9sus8qW<\/a><\/p>\n

\u2014 60 Minutes Australia (@60Mins) May 15, 2017<\/a><\/p><\/blockquote>\n

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Support and criticism of Gurner came in thick and fast, with the likes of London Mayor Sajid Javid<\/a> rushing to the defense of younger generations. <\/p>\n

He said the avocado argument was \u201cnonsense,\u201d adding: \u201cLast year, the average first-time buyer in London needed a deposit of more than \u00a390,000. That\u2019s a lot of avocados.\u201d<\/p>\n

Years later, millennials would have to splurge even more extortionately on avocados to stop them from getting a foot on the property ladder, with Zoopla finding that in 2022, the average deposit on a first home in London was \u00a3144,500.<\/p>\n

While avocado-gobbling millennials are supposedly enjoying the treat over breakfast with coffee on the side, it turns out consumers are enjoying the treat most frequently with their evening meal. <\/p>\n

Data sourced from Kantar and GfK found that when eaten at home, avocados are most frequently enjoyed\u201434.6% of the time\u2014with dinner, while they were eaten 29% of the time at breakfast.<\/p>\n

Price factor<\/h2>\n

Another hole in the theory that millennials are spending swathes of cash on the fruit<\/a> is that the prices of avocados have dropped in recent years.<\/p>\n

According to food and agricultural produce platform Selina Wamucii<\/a>, the export price per kilogram of avocados in the U.S. over the past five years has declined. <\/p>\n

In 2017 the export price per kilogram was $3, whereas five years later the predicted price for 2024 will be just under $2.60 per kilogram.<\/p>\n

Indeed, consumers with money to spare might be surprised to discover avocados aren\u2019t the most expensive among their peers. <\/p>\n

A quick look at a grocery website shows that avocados can sell for anywhere between 89 cents at Lidl and $3.99 for a bag of six at Trader Joe\u2019s. Meanwhile, a pomegranate, for example, retails for $2.99 at Lidl and Trader Joe\u2019s.<\/p>\n

That being said, millennials still view avocados as a treat item. <\/p>\n

The WAO\u2019s data found that 33% of those aged between 25 and 44 ate avocados for an occasion, be it a special event, picnic, or celebration, while just 17.8% of those aged 65+ consumed the fruit for an occasion rather than adopting it more generally in their diet.<\/p>\n<\/div>\n

Subscribe to the Fortune Next to Lead newsletter to get weekly strategies on how to make it to the corner office. Sign up for free<\/a>.<\/div>\n