A latest survey published by KPMG reveals that if there is one thing Gen Z Ghanaians are not negotiating on, it is food.
This youngest working generation spends more on food than any other age group, and they are not shy about it.
According to the latest KPMG’s 2025 West Africa Banking Industry Customer Experience Survey, 73% of Gen Z respondents rank food as their biggest expense, with six in ten saying their food spending increased over the past year.
In a time of easing inflation but still-tight budgets, the survey reveals that Gen Z appears to be choosing enjoyment, convenience, and day-to-day flexibility over long-term financial planning.
Gen Z: Food First, Flexibility Always
For Gen Z, food is not just about survival. It is lifestyle, comfort, and sometimes therapy. This means that whether it is street food, take-out, or the occasional “small treat,” food remains a major priority.
The KPMG’s findings also show that Gen Z allocates a smaller share of income to formal savings. Rather than locking money away, many prefer to keep cash flexible, ready to spend or respond to short-term needs.
“Gen Z respondents are the most food-exposed, with 73% identifying food as their top spending category and six in ten reporting increased food expenditure over the year,” the report cited by The High Street Journal noted.
It added, “Gen Z tends to prioritise consumption and short-term financial flexibility, often allocating smaller portions of income to formal savings.”
Millennials: Squeezed in all Directions
The report further indicates that while the Gen Zs are ‘enjoying’, the Millennials generation, now deep into adulthood, shows a more balanced but pressured spending pattern. Their expenses are spread across utilities, food, and family obligations.
Utilities take a share of 58%, food takes 57%, and family obligations take 55%.
This reflects a generation juggling rent, school fees, childcare, and extended family support. For them, food matters, but responsibility matters more. Savings exist, but often compete with urgent household demands.
“Millennials’ spending is more evenly distributed across utilities (58%), food (57%), and family obligations (55%), reflecting the pressures of household formation and dependants,” KPMG noted.
Gen X: Stability Over Everything
Gen X respondents, many of whom are primary providers, spend most heavily on family obligations (66 percent), utilities (63 percent), and health and fitness (54 percent).
Their spending tells a story of duty and maintenance. Keeping the household running, staying healthy, and supporting dependants come first. Unlike Gen Z, their focus is less on flexibility and more on stability.
“Gen X respondents, often primary providers in their families, allocate significant resources to fam ily obligations (66%), utilities (63%), and health and fitness (54%), underscoring their role in maintaining household stability,” the survey noted.
What the Generational Divide Reveals
The contrast revealed by the KPMG is striking. Gen Z prioritises consumption and immediacy. Millennials are stretched thin by responsibility. Gen X is anchored by obligation and long-term thinking.
While Gen Z’s lower focus on formal savings may raise eyebrows, it also reflects economic reality.
With incomes still modest and memories of recent hardship fresh, many young people see little benefit in rigid saving structures when everyday costs remain high.
For now, Gen Z is eating well, saving less, and keeping their options open. Whether that strategy pays off in the long run is a question for another day.
