A recent Harris Poll reveals that more Americans prefer having pets rather than children. The study included 2000 Americans and showed that 43 per cent now prefer pets over kids, as many Gen Z and Millennials believe caring for pets is easier and financially less burdensome.
Other findings from the report titled, ‘The State of Pets: Unpacking America’s Pet Preferences’ suggested that on average, American pet owners spend $4,366 yearly on their pets. It also highlighted a significant shift in the spending for pets from an average of $2,454 by Boomers to $5,150 by Millennials and $6,103 by Gen Z.
According to the study, pet owners are willing to make sacrifices for their furry friends, with 63 per cent saying they would even give up years of their lives to make their pets live longer.
When asked what would they give to add one more year to their pet’s life, 67 per cent would give up alcohol for a year, 62 per cent would leave social media, 50 per cent would give up three years of vacations, 48 per cent would spend $10,000, and 43 per cent would leave a job promotion.
The research also reveals that 82 per cent of pet owners feel their pet is like their own child. Furthermore, 60 per cent of Gen Z and Millennials are willing to prioritise spending on their pets rather than themselves, and 70 per cent allocate a budget for their pets.
More pets than children in the US
Recently, it was also found that there are more pets in American households when compared to the number of children.
According to the US Census, the share of families with children has declined from 48 per cent in 2002 to 40 per cent in 2022.
On the other hand, the American Pet Products Association study showed that the share of American households with pets has increased from 56 per cent in 1988 to 70 per cent in 2022.
(With inputs from agencies)