The experience economy is alive and well.
Active spenders. Gen Z is spending big on social fitness and social drinking, according to BoA credit card data.
Join the club. Fitness purchases like gym and country club memberships were up 9% YoY for Gen Z and 5% for millennials. Keeping up, Gen X and baby boomers poured ~4% more into active pursuits.
Call the shots. Alcohol sales neared a 40-year low—with younger generations leading the movement. But while retail sales fell 5% YoY, purchases at bars surged 4%. Bucking a trend, alcohol spending during “Dry” January notched a small YoY increase.
Neither on nor off the wagon, Gen Z’s relationship with booze is different—with binge drinking plummeting but spending still up 3%—pushing more to social sipping over steadfast sobriety.
Mix it up. While older gens are bellying up for community, younger generations are seeking anti-algorithm hangouts via communal hobbies and group sweats — with a little liquid indulgence to curb social friction.
Mixing cultures for the moderates, Aussie brewer Heaps Normal opened a club serving low-ABV and NA options, and George Clooney launched 0% brew Crazy Mountain. Responsible refreshment, Tom Holland’s BERO became an official post-workout brew at Barry’s.
Takeaway: Despite its physical harms, there’s yet to be a suitable cultural replacement for alcohol’s social-enriching abilities — and balancing the effects is part of the wellness journey.
