The Furry Revolution: Millennials’ Obsession With Their Pets Is Taking Over
Did you know that millennials spend more money on their pets than their health care? Yes, you read that correctly! According to the American Pet Product Association, about a third of pet owners are millennials. What’s more, they are willing to go to great lengths to take care of their fur babies.
From epicure pet food to high-end grooming products, these pet owners are leading a furry revolution. With 68% of the US population owning at least a pet, it’s clear that pets are family members. So, if you’re not on board with the pet-obsessed millennial trend yet, you should get with the program and spoil your furry baby!
Pet Fashionista: A Millennial Obsession with Dressing Their Fur Babies to the Nines
Move over, kids; pets are now the apple of millennials’ eyes! With the high cost of raising children in America, millennials are prioritizing their four-legged friends instead. That includes splurging on designer clothes that cost up to $400.
From fancy jackets to cozy sweaters, pet retailers have discovered their niche market in the millennial pet-obsessed generation. Luxury brands like Moncler Genius and Poldo Dog Couture are hopping on the pet fashion bandwagon, and it’s only getting hotter.
Snooze in Style: The Lucrative Market of Dog Beds for Millennial Pet Parents
Gone are the days when a simple pillow would suffice for our furry friends! The pet retail market is increasingly expanding, and one of the hottest trends is luxury pet beds. Millennials are willing to be extravagant, splurging on beds that offer comfort and add style to their home decor.
With sustainability and dapper designs, pet retailers are stepping up their game, offering a broad range of options. From eco-friendly materials to eye-catching designs, these beds are a must-have for millennial pet parents.
Fur Baby Finances
When their beloved furry friends fall sick, most millennial pet parents find themselves in deep debt. A recent survey by LendingTree shows that about 42% of millennials have experienced pretreated debt, often due to veterinary bills.
Since almost half of them don’t have enough funds to pay for their pets’ treatments, they charge it to their credit cards. Millennials are willing to go the extra mile to care for their babies, even if it means putting their financial well-being on the line.
Millennial Love for Pet Social Media Fuels Petco's Billions in Sales
Petco is one of the largest pet suppliers in the world, selling everything from toys, food, accessories, and pets. The retailer has experienced immense success recently thanks to millennials who spend big bucks to dress their pets to showcase them on social media.
With over $4 billion in sales, Petco says a big thank you to millennials for the “humanization” of pets. After all, for many pet owners, their furry babies are considered family members, and they will spare no expense to ensure they look good for the ‘gram.