Pet parenting is officially in. Sorry, kids — Millennials and Gen Z are choosing to raise pets over having children. In fact, 43% of survey respondents say they’d rather have pets than kids. Why? Pets cost less, fit better into flexible lifestyles, and for many, feel just as rewarding.
Pets are cheaper to care for than children, but don’t confuse “cheaper” with “cheap.” Today’s pet parents are anything but stingy. Younger generations are actually spending more than twice as much on their pets compared to older generations. From premium food to pet tech, pet spending trends show that people are going all in for their furry companions.
For pet store owners, this is good news. In this blog, we’re diving into the latest pet spending trends — where pet owners are spending the most and what that means for your business.
Let’s get started.
In 2024, the U.S. pet industry topped $150 billion — and it’s not slowing down anytime soon. By 2030, it’s projected to hit nearly $200 billion. No shocker here: dogs still hold the crown, with 44% of pet-owning households claiming at least one. Cats follow close behind, keeping the rankings competitive.
As pets continue to be treated like family, owners are shelling out more than ever — especially on nonessentials like gourmet treats, stylish accessories, and pet insurance. By the end of 2024, there were 6.25 million pets insured across North America, a 16% increase from just two years prior.
Here’s how today’s pet spending trends are divided by category, according to the American Pet Products Association (APPA):
*Other services include offerings like grooming, boarding, training, pet sitting, and insurance.
Huge numbers, right? But what do they really mean for your pet store? Let’s zoom in: who’s doing the most spending, what exactly they’re buying, and whether this surge is just a trend or a long-term shift in how we care for our pets.
Related Read: What Are the Top Pet Products To Sell in 2025? [& How To Manage Them]
If you want to stock your pet store smarter, it’s worth knowing who’s doing the most pet parenting — and where they live. Pet spending trends aren’t random. They’re shaped by age, income, lifestyle, and location. The more you understand this, the better you can meet your customers where they are.
Millennials now make up the largest share of pet owners at 33%, followed by Gen Z at 25%, and Baby Boomers at 24%. But ownership is just part of the story — spending tells you even more. Millennials spend an average of $5,150 a year on their pets, while Gen Z is already outspending them at around $6,100 annually. Boomers still love their pets, but their yearly spending is lower, averaging about $2,450.
This generational breakdown matters:
Income plays a role in what — and how much — pet owners spend, too. Households making over $100,000 a year are more likely to own multiple pets, and those pets are usually dogs. These owners are also more inclined to spend on high-end products, luxury services, and subscription boxes. Lower-income households (under $20,000) are less likely to own pets, and when they do, they tend to stick to the essentials and keep it budget-friendly.
And then there’s geography. Where people live has a huge impact on how they care for their pets — and how much they spend:
This isn’t a coincidence. The cost of pet care usually matches the cost of living. Pet parents in big cities may drop serious cash on boutique grooming or possibly acupuncture for their pets. In smaller towns, those services might not even be available — or necessary.
Related Read: Pet Store Customer Loyalty 101: The What, Why, and How
What can you do with all this info on who’s spending what, where they live, and how they treat their pets? Use it. It gives you insight — and the freedom — to get creative with what you offer.
You’re not taking advantage of pet owners. You’re helping them show up for the animals they love. These pet spending trends are your opportunity to meet demand in a way that feels personal and local.
Let’s break it down:
You don’t need to guess what your customers want. You already know them. You live where they live. You hear their stories. Tap into this. Let your shelves, your services — and even your marketing — reflect what truly matters to the people walking through your door.
Some pet owners are taking pet care to a whole new level. They’re booking vet visits before their own doctor appointments. They’re budgeting for pet insurance, on-call veterinary care, and premium food like it’s nonnegotiable. This group of dedicated pet owners isn’t just pampering their pets — they’re integrating them into every part of their lives.
Nearly 33% say they’d give up $100,000 for more time with their pet. And 47% would leave their pet an inheritance if they could. This kind of commitment signals a bigger shift than just a trend — it’s a fundamental change in how people view pet ownership.
Taylor Harnois, pet-industry expert, sees it clearly. “Pet owners today aren’t treating pets like accessories — they’re treating them like family. If you’re a retailer, that means your products and services need to reflect that level of care. People want brands that understand what their pets mean to them.”
For pet retailers, this is a chance to build stronger connections with customers. Whether that’s stocking wellness-focused food, offering flexible services, or simply creating a space where people feel seen — you can stay relevant by showing you understand what matters to them.
You see what matters to your customers every time they walk in or check out online. Use this to stay ahead.
Understanding pet spending trends helps you stock smarter, serve better, and grow faster — and eTailPet is built to make that easier.
It’s an all-in-one point of sale (POS) system made for pet retailers — one that actually works with the way your business runs.
With eTailPet, you can:
You’re already in the business of helping people care for their pets. This just gives you the tools to do it better.
Want to see how it works? Schedule a free demo today.