Who is the Most Pet Obsessed?

Women, baby boomers and Cincinnati residents are the most pet-obsessed, according to a LendingTree survey released last month on National Pet Day. Cincinnati, in fact, has more pet stores than any other market in the U.S. 

“Pets are becoming a bigger and bigger part of people’s lives, and there’s never been more stuff to buy for your pet than today,” LendingTree chief credit analyst Matt Schulz said.

The study uncovered that American households spend an average of $690 on their pets, up from $460 in 2013. And that number is on the rise—dollars plunked down on pets is rising 2.5 times faster than overall spending in the U.S.

Other notable findings, women spend more than men on pets. Single women spent an average of $504 a year on pets, or 1.4% of their income, in 2019 and 2020. Men spent an average of $381, or 0.9% of their income, in the same period.

Baby boomers dig deeper into their pockets for furry friends. People born between 1946 and 1964 spent an average of $834 — or 1.4% of their income — on pets in 2020. Members of the silent generation — people born in 1945 or earlier — spent the least on pets at an average of $296, or 0.7% of their income.

Want to enter the pet food market? Read here for a guide.