The 'Pet Economy' Boom: Americans Are Spending Big and Going All-in for Their Pets
A new Harris Poll study reveals the growing 'Pet Economy' trend in American pet ownership. Pet owners spend an average of $4,366 annually on their pets, with Gen Z leading at $6,103, followed by Millennials ($5,150), Gen X ($3,878), and Boomers ($2,454). The study shows 82% of pet owners view their pets as children, with 34% of Millennial and 29% of Gen Z pet owners reporting financial strain from pet care. The trend is driving demand for pet-friendly workplaces, with 58% wanting pets allowed at work and 49% seeking pet expense stipends. Additionally, 80% advocate for more pet-friendly establishments, while 75% desire increased access to pet-inclusive areas.
Un nuovo studio di Harris Poll rivela la crescente tendenza della 'Pet Economy' nella proprietà di animali domestici negli Stati Uniti. I proprietari di animali domestici spendono in media $4,366 all'anno per i loro animali, con la Generazione Z in testa a $6,103, seguita dai Millennial ($5,150), dalla Generazione X ($3,878) e dai Baby Boomer ($2,454). Lo studio mostra che l'82% dei proprietari di animali considera i propri animali come dei bambini, con il 34% dei Millennial e il 29% della Generazione Z che segnalano un carico finanziario dovuto alla cura degli animali. Questa tendenza sta aumentando la domanda di luoghi di lavoro pet-friendly, con il 58% che desidera che gli animali siano ammessi al lavoro e il 49% che richiede indennità per le spese per gli animali. Inoltre, l'80% degli intervistati sostiene la creazione di più esercizi pet-friendly, mentre il 75% desidera maggiori accessi a aree dedicate agli animali.
Un nuevo estudio de Harris Poll revela la creciente tendencia de la 'Pet Economy' en la propiedad de mascotas en Estados Unidos. Los dueños de mascotas gastan un promedio de $4,366 anualmente en sus animales, liderando la Generación Z con $6,103, seguidos por los Millennials ($5,150), la Generación X ($3,878) y los Boomers ($2,454). El estudio muestra que el 82% de los dueños de mascotas ven a sus animales como hijos, con un 34% de los Millennials y un 29% de los dueños de mascotas de la Generación Z informando de una carga financiera debido al cuidado de sus animales. Esta tendencia está impulsando la demanda de lugares de trabajo que admitan mascotas, con un 58% que desea que las mascotas sean permitidas en el trabajo y un 49% que busca estipendios para gastos relacionados con ellas. Además, el 80% aboga por más establecimientos que sean amigables con las mascotas, mientras que el 75% desea un mayor acceso a áreas que incluyan mascotas.
새로운 해리스 폴(Harris Poll) 연구는 미국 애완동물 소유에서 '펫 경제' 트렌드의 증가를 보여줍니다. 애완동물 주인들은 평균 연간 $4,366을 애완동물에 지출하며, Z세대가 $6,103으로 선두를 달리고, 그 뒤를 밀레니얼($5,150), X세대($3,878), 베이비붐 세대($2,454)가 따릅니다. 연구에 따르면 애완동물 주인의 82%가 자신의 애완동물을 자녀처럼 여기며, 밀레니얼의 34%와 Z세대의 29%가 애완동물 관리로 인한 재정적 부담을 보고했습니다. 이 트렌드는 반려동물 친화적인 직장에 대한 수요를 이끌고 있으며, 58%는 직장에서 애완동물 출입을 원하고 49%는 애완동물 관리 비용 지원을 요청하고 있습니다. 또한, 80%는 더 많은 애완동물 친화적인 시설을 촉구하며, 75%는 애완동물이 포함된 지역에 대한 접근성을 높이기를 원하고 있습니다.
Une nouvelle étude de Harris Poll révèle la tendance croissante de la 'Pet Economy' dans la possession d'animaux de compagnie aux États-Unis. Les propriétaires d'animaux dépensent en moyenne 4 366 $ par an pour leurs animaux, avec la génération Z en tête à 6 103 $, suivie des Millennials (5 150 $), de la génération X (3 878 $) et des Baby Boomers (2 454 $). L'étude montre que 82 % des propriétaires d'animaux considèrent leurs animaux comme des enfants, avec 34 % des Millennials et 29 % des propriétaires de la génération Z signalant des difficultés financières dues aux soins des animaux. Cette tendance stimule la demande pour des lieux de travail adaptés aux animaux de compagnie, avec 58 % souhaitant que les animaux soient autorisés au travail et 49 % recherchant des indemnités pour les dépenses liées aux animaux. De plus, 80 % plaident pour davantage d'établissements accueillant les animaux, tandis que 75 % souhaitent un meilleur accès aux zones inclusives pour les animaux.
Eine neue Harris Poll-Studie zeigt den wachsenden Trend der 'Pet Economy' im amerikanischen Haustierbesitz. Haustierbesitzer geben im Durchschnitt 4.366 $ jährlich für ihre Tiere aus, wobei die Generation Z mit 6.103 $ an der Spitze liegt, gefolgt von den Millennials (5.150 $), der Generation X (3.878 $) und den Babyboomern (2.454 $). Die Studie zeigt, dass 82% der Haustierbesitzer ihre Tiere als Kinder betrachten, wobei 34% der Millennials und 29% der Haustierbesitzer der Generation Z von finanziellen Belastungen durch die Tierpflege berichten. Dieser Trend steigert die Nachfrage nach haustierfreundlichen Arbeitsplätzen, wobei 58% möchten, dass Haustiere am Arbeitsplatz erlaubt sind, und 49% nach Erstattungen für Tierausgaben fragen. Darüber hinaus sprechen sich 80% für mehr haustierfreundliche Einrichtungen aus, während 75% sich mehr Zugang zu haustierfreundlichen Bereichen wünschen.
- Strong consumer spending in pet care sector, averaging $4,366 annually per pet owner
- High willingness to spend among younger generations (Gen Z: $6,103, Millennials: $5,150)
- Growing market demand for premium pet products and services
- Strong potential for business expansion in pet-friendly spaces and services
- 34% of Millennial and 29% of Gen Z pet owners report financial strain from pet expenses
- Rising 'pet debt' phenomenon indicating potential financial risks for consumers
Insights
The pet economy represents a significant market opportunity, with average annual spending of
The demand for pet-friendly workplaces (
For investors, this represents a secular growth trend driven by demographic shifts and changing social attitudes, particularly among younger generations who increasingly view pets as alternatives to traditional family structures.
The pet economy's robust growth metrics present compelling investment implications. Key indicators include:
- High discretionary spending potential, with
38% of owners willing to trade$100,000 for extended pet time - Strong recurring revenue opportunities through subscription services and premium products
- Demographic tailwinds from Gen Z and Millennial spending patterns
The trend toward "pet debt" suggests opportunities in pet-focused financial services, including insurance, healthcare financing and specialized credit products. The demand for workplace benefits and stipends could create new revenue streams for HR service providers and pet care benefit administrators.
The Harris Poll Survey Reveals the Rising Costs and Commitments of Modern Pet Parenthood
NEW YORK, NY / ACCESSWIRE / November 11, 2024 / A new study by The Harris Poll reveals a burgeoning trend in American pet ownership, marking the rise of the "Pet Economy." As pet owners increasingly treat their pets as integral family members, they are committing substantial financial resources, driving the emergence of "pet debt" as a new norm. On average, American pet owners spend
The Harris Poll
If given the choice,
"Pet owners are no longer just buying kibble-they're building a lifestyle around their pets," says Libby Rodney, Chief Strategy Officer and Futurist at The Harris Poll. "From commissioning custom portraits to creating pet-only spaces in their homes, this new wave of ‘All-in Pawrenting' shows how deeply integrated pets have become in every aspect of their owners' lives."
From Emotional Support to Financial Commitment: The Cost of Pet Parenthood
Pet ownership has transcended traditional boundaries, evolving into a significant financial undertaking. With
A striking
Pet Owners Are Calling for Pet-Friendly Workplaces, Spaces, and Luxury Services
The desire for pet-friendly environments and specialized services is on the rise, with pet owners calling for changes not just in public spaces, but also in the workplace. Over half of American pet owners (
In public spaces, eight in 10 pet owners (
The growing market for premium pet products and services reflects this trend. Over half of pet owners are interested in items such as GPS collars, monthly pet subscription boxes, specialized cameras, and pet-centric events. Among the "All-in Pawrents,"
"Pawternity" is Here to Stay: Redefining Modern Pet Parenthood
The emergence of "All-in Pawrents" demonstrates a growing desire for a new kind of parental recognition. Over a third (
"‘All-in Pawrenting' is not just a catchy term; it reflects a fundamental change in how Americans view family," adds Rodney. "These pet parents are rewriting the rules, prioritizing their pets in ways that demand societal adaptation and respect. From pet-specific insurance to ‘pawternity leave,' it's clear that our love for our pets is shaping the future."
About the survey
This custom survey was conducted online within the United States by The Harris Poll between May 24 to 26, among comprising of 1,594 pet owners aged 18 and over. Additionally, this research comprises of 738 "All-in Pawrents," who are pet owners that responded, "Strongly Agree" when asked to respond to the statement "My pet(s) is/are like my own child." You can view the full report here.
About Harris Poll Thought Leadership Practice
Building on 60+ years of experience pulsing societal opinion, we design research that is credible, creative, and culturally relevant. Our practice drives thought leadership and unearthed trends for today's biggest brands. We are focused on helping our clients get ahead of what is next. To learn more, please visit www.theharrispoll.com/solutions/thought-leadership-practice/
About Harris Poll
The Harris Poll is one of the longest-running surveys in the U.S., tracking public opinion, motivations, and social sentiment since 1963, and is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building 21st-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and guidance to help leaders make the best decisions possible. To learn more, please visit www.theharrispoll.com
Contact Information
Tim Osiecki
Director, Thought Leadership & Trends, The Harris Poll
tim.osiecki@harrispoll.com
SOURCE: The Harris Poll
View the original press release on newswire.com.
FAQ
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