Pet care brands are seeing a surge in sales thanks to young pet parents. YPulse found that 76% of 20-38-year-olds are pet owners, and 23% have been spending more than usual on their pet because of COVID. Companies like General Mills, Tractor Supply, and Chewy are seeing a “pet boom” as more young people move out of cities and have the “time and space” to adopt a new pet. According to a Bank of America poll, 69% of all consumers have at least one amial and 37% have adopted a pet in the last six months. Online pet spending reached 57% in April and has remained on an upward trend. (MarketWatch)
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