The Blubber

Per USA Today

46% of pet owners reportedly say that their monthly expenses for their children and pets are the same. In December, Forbes reported that 78% of pet owners acquired their pets during the pandemic.

Ally Consumer Research now reports that almost half of pet owners spend the same amount or more on their pets as their children. This study consisted of 988 pet owners.

It found that over 40% had monthly expenses from $100 to $299 on pets. It was also reported that 22% of the participants spent at least $300.

The list of expenses was topped by food and healthcare, among other expenditures. Ally gave a statement regarding the fondness of pets in America. Per the statement, it was noted that this wasn't a surprise.

Ally: “Americans’ love of pets is legendary so the amount spent on “friends of choice” comes as no surprise,”

The study also found that to be able to keep pace with spending on pets, 53% of participants were willing to cut spending on themselves. Rover trend expert Kate Jaffe gave a statement regarding how owners are sacrificing for their pets.

Jaffe: “They’re opting to give up their own creature comforts to ensure their pets enjoy the same quality of life,”

It was also recently reported that four out of ten people prioritised dog food by cutting back on groceries. The study also broke down the costs of being a pet parent, showing that owners could spend up to $3,555 annually, $5,155 in upfront costs, and $4,095 in optional extra expenses.

Aside from pets, 78% of Americans were found to lack confidence that life for their children's generation would be better than their own. This was reportedly the highest percentage ever recorded of Americans lacking confidence in the next generation's quality of life.

See flow at unusualwhales.com/flow.

Other News:

• 4/10 people are prioritizing buying dog food by cutting back on groceries
• 78% of Americans do not feel confident that life for their children’s generation will be better than their own, the highest percent ever

Resources:

USA Today

Forbes