It’s no secret that Millennials love their pets. Just look on Facebook on Instagram – nearly every Millennial that you follow will likely have at least one (and typically many) pictures with their furry friends. In fact, many resist the neutral title of pet “owner” and rather consider themselves cat “parents.”
But it’s not just their Instagram feed that Millennial consumers are devoting to their cats and dogs. According to Purina, a significant chunk of Millennials’ holiday spending budget will go towards pet accessories, gifts, and organic food.
In fact, PwC’s 2016 Holiday Outlook study predicts that consumers overall will spend an average of $62 on their pets, but Millennial pet owners will shell out an average of $81 each on their furry companions!
Why?
Many Millennials are still putting off getting married and having children, waiting longer than any other generation to do so. But the one thing that Millennials are doing sooner than Boomers is getting pets! According to a Wakefield study, the average Millennial gets his or her first pet at age 21, much earlier than the average Boomer, who waited until 29. The study found that both groups think of pets as family, but many Millennials view owning a pet as preparation for future adult responsibilities.
Much of Millennial consumers’ hefty pet budget is spent on “non-essential” pet items, such as clothing, toys, and designer beds.
And if Millennials are known to shell out money for cold pressed juice, organic produce, and free range chicken, you can bet they keep the same food preferences for their pets. They opt for pet food with real meat and natural, recognizable ingredients.
Do your pets take up a significant chunk of your holiday shopping list? Join the conversation on Twitter at @JasonDorsey or @WhattheGen and don’t forget to add your #generation!
