Big Retail Sales Forecast: Millennials Are Obsessed With Pets

PetSmart, the largest pet specialty retail chain in North America as of March 2022, leads the industry with a total of 1,669 stores. Millennials’ preference for online shopping has also contributed to the growth of e-commerce platforms like Zulily, which experienced a 33% increase in pet category sales in 2017.

Millennials treat their pets as starter children, with 82% believing that getting a pet is part of preparing for a family. This mindset has influenced their spending habits, with 92% purchasing gifts such as toys, clothing, and treats for their pets at least once a month.

In fact, millennials and Gen Xers spend more money on their pets, especially when it comes to veterinary care.

The pet food industry has adapted to cater to millennials’ preferences, with recent trends including sustainably and ethically sourced raw ingredients, humanely raised protein sources, clean and clear labeling, and a move toward plant-based ingredients. These trends are expected to continue driving growth in the pet industry…