Young people who can’t afford to own homes or have kids are splurging on their pets instead. Research shows that Gen Z spends an average of $178 a month on their pets, while Millennials spend about $146. This trend makes sense, as spending on pets may feel more manageable than traditional “adult” milestones like buying a home or starting a family. And on top of that, new data from Indeed shows that this spending trend has made veterinarians one of the top jobs this year—not even just among young people. The shift in people wanting to spend more on pets is happening at the same time as a rise in the number of young people in the U.S. never wanting to have kids, increasing from 37% to 47% by 2023, according to Pew Research Center. (Fortune)
📊 YPulse data: 24% of 18-24-year-olds have spent money on pet care products / services in the past month
