In the United States today, there are nearly 90 million pet dogs – that’s 90 million snuggle buddies, fur babies, and best friends that rely on us to take care of them. In 2018, spending on pets exceeded $72 billion , putting the business of pets far ahead of countless other industries. So, what is it about the pet industry that seems so recession-proof? How Much Do We Spend On Our Pets? On an individual basis, pet parents spend around $100 per month on their pets. This includes food, treats, toys, and essential healthcare. But when money is tight, especially in the case of Millennials and Gen Z, pet parents make do with what they have. Three out of four pet owners say they would make sacrifices on their own financials if their pet needed it. 79% said they’d quit eating at restaurants while 67% said they’d put off taking a vacation. At the end of the year, our annual spending on pets comes out to around $1,300 – but what happens when this isn’t enough? $142: the amount Millenni...
