Latest data from money.co.uk savings accounts shows that nearly six in every ten British people in this age bracket are signed up to services such as Hello Fresh, Simply Cook and Gousto - the three most popular meal kit providers.
They provide pre-portioned ingredients and step-by-step recipes delivered directly to the doorstep that eliminate the need for food shopping and provide a quick and easy solution.
According to the research, although the meal kit trend is being spearheaded by youngsters, the number of subscribers dramatically drops off for older generations with just 8% of people aged 55 and over currently signed up.
This trend is also clearly seen among the remaining age demographics, with 20% of people aged 45-54 subscribed, 29% of those aged 35-44, and 46% of those in the 25-34 age bracket.
Although 47% of those surveyed said they spent more on meal kits than they would if they went down the traditional route, a surprising 38% said there was no difference between the amount they spent on meal kits per week and what they would alternatively spend food shopping.
According to Lucinda O’Brien, expert at money.co.uk savings accounts, while convenience is increasingly important for young people, it should not be enjoyed at the expense of responsible spending and savings.
She said: “It’s an unfortunate stereotype that some generations spend excessively on things they don’t need, and that luxuries such as takeaway coffee and Avocado on toast are the reason for a lack of financial progression.
“In fact, the financial issues impacting young people’s ability to save are far wider, relating to wage growth, inflation and more. While convenience spending isn’t the root of the problem, it is important to understand the impact your spending choices have on your finances in the long run, particularly when it comes to savings.
“Our research into spending on meal kits reveals how adults in the UK, in the search for convenience, are generally spending more than those who are willing to wait.
“So, if you are going to use monthly subscription services, make sure you use every trick in the book to keep the cost low. Many services will give you free trials, and with the number of services out there, you can get months of goods for very little investment.”
https://www.money.co.uk/savings-accounts