Millennials Spend A Ton On Their Pets. Here’s Where That Money Is Going
Millions of people across the country are able to share something in common. According to the American Pet Products Association, about 68 percent of the U.S. population owns at least one pet and about a third of those pet owners are millennials. USA Today reported that millennials are also spending more money on their pets than they do on their own health care. The rise in millennial pet ownership and spending has made it clear that they go to great lengths to take care of their “fur babies.”
Dressed To The Nines
Pet retailers have finally found their niche market. Business Insider reported that “[r]aising kids is so expensive in America that millennials are prioritizing their pets instead.” By putting their pets first, a large percentage of millennial pet owners are willing to spend more on pet items including dog clothes.
This has led some pet clothing brands to branch out into luxury companies such as Moncler Genius and Poldo Dog Couture. Millennials are spending upwards of $400 on pet clothing alone.