According to the American Pet Products Association, millennials are now officially the largest segment of pet owners in the United States. Millennials, or Generation Y, now account for 35 percent of all pet owners. They now own more pets than baby boomers. Do you know if you’re a millennial? Folks aged 25-39 years-old are considered millennials. Not only are millennials the largest segment, they are also very different to pet owners of the past. Millennials spend more time pampering their pets and buying specialized products for them. In fact, according to the APPA survey, Gen Y owners are more likely to:
- Take their pet to the vet more often, give them flavored oral medication, and give them vitamins
- Pay for any pet service ranging from doggie day care and boarding, to pet sitting at home
- Have been to a pet-friendly restaurant
- Take their dog with them on errands and to a dog park
- Own designer items for their pet and hold parties for their pets
- Buy gifts for more occasions, spending more per gift, and getting more gifts in total
So, why is it that more and more millennials are becoming pet owners and spending so much of their time and money on them? Well, many younger folks are not ready for children and are finding happiness in their furry friends instead. In fact, millennials enjoy the company of pets for emotional support, stress relief, and to lower anxiety or depression. Another benefit of owning a pet is that it forces millennials to get outdoors and remain active.
It’s important for pet companies to also take note of this growing trend. In fact, reports show that younger pet owners are more likely to trust products from smaller companies rather than big brand names. Also, younger pet owners are more likely than older owners to shop online for pet products. Millennials are more likely to have an online presence for their pets as well- in fact, 17 percent of millennials have social media accounts for their pets. Just check out these Pets of Influence featured on our blog!
It’s not surprising that younger folks are taking this oppawtunity to delay having children, if they plan to have them at all, and save money. Of course, owning pets comes at a great expense too– but, fortunately, they don’t require a college education! As the cost of living continues to rise and more and more millennials struggle to pay off student loans, we can only expect that pet owners among this generation will only continue to rise.
Are you a pet owner in the Phoenix area? Stop by one of our four locations with your furry friend and treat them to a nice shampoodle and pawdicure! We’d love to meet your fur babies!