by John Bradford
While the notion that pets are an integral part of the family dates back several generations, that idea is even more prevalent now.
Pet ownership has risen prominently over the past several decades—from 56% of households in 1988 to 66% now, according to the American Pet Products Association—and data collected by Forbes from various sources illustrates that younger generations place an even greater emphasis on their furry friends.
According to a Forbes Advisor compilation of pet statistics, Gen Z individuals (those ages 18 to 25) are more likely to dedicate monetary resources toward their pets’ needs and overall happiness. According to the study, Gen Z pet owners are the most likely to spend money on behavioral training (41%), dog day care (35%), specialized pet food (44%), and dog walking services (31%). They are also the most likely generation to spoil their pets with entertainment-related items such as birthday cakes (34%), birthday presents (39%), and clothing or costumes (32%).
Read John Bradford’s article in the Multifamily Executive.