For Millennials, It’s About Skipping “I Do” in Favor of “Go Fetch”
Lifestyle From expensive foods to social media, Millennials are forgoing marriage and investing their time — and spending power — in fostering relationships with their pets.
Did you know that millenials account for 27 percent of the U.S. adult population? Or that by 2018, they will eclipse the baby boomer generation in spending power — $3.39 trillion worth? That’s equal to the economy size of the entire country of Germany. So yes, millenials are the talk of the town right now for a reason, and the good news for pets in this country is that Millennials just happen to be all about pets.
The Millennial pet owner
Let’s talk now about the millennial pet owner. They are referred to as exhibitionists — think removing a photo from social media because it didn’t get enough “likes” — yet conscientious and irrational all at the same time. They think differently about what is “essential” when purchasing products, meaning they will buy discretionary products under the guise that they are non-discretionary — like a two-way pet camera to keep eyes on pets while away from home. They make impulse purchases, they eat out, they own smart phones and they like to splurge.
“Millennials got their first pet as an adult at age 21, whereas Baby Boomers did not get their first pet, on average, until age 29.”
However, just because they like to spend on their pets, doesn’t mean they’re spending on anything and everything for their loyal companions. They can be pretty particular when it comes to pet products, preferring products that are BPA-free, natural or organic and hypoallergenic in terms of beauty-care products for their pals. They want the food for their pets to be free of artificial flavors or preservatives, and feel much stronger about this than previous generations. They love their pets, much like all pet owners do, but they tend to show their love and affection in different ways.
The Millennial next step
It’s safe to say that they are pet-obsessed. Not only do they follow other pets on social media, but also many of them actually have accounts solely dedicated to their own pets. And, they are becoming pet owners at a much earlier age than the generations before them. Millennials got their first pet as an adult at age 21, whereas Baby Boomers did not get their first pet, on average, until age 29.
So we see a trend here with Millennials delaying marriage and having children and part of that is because they instead are turning to pets and treating them as a member of the family. We like to refer to it as “taking the pet step.” What that means is the next major step in a Millennials’ life, and showing that they are becoming a responsible young adult, is adding a pet to their family. From pet selfies to a full wardrobe these lucky dogs, cats, birds and fish have a bright future with Millennial owners by their side.