A survey conducted by The Harris Poll found that 24 percent of owners are in debt because of spending on their pets.
With pet ownership on the rise and more parents considering their beloved animals as family members, America is experiencing a pet economy boom and younger generations are leading the way.A survey by The Harris Poll conducted from May 24 to 26 asked 2,125 adults aged 18 and over about pet preferences and spending habits on their pets. The results revealed younger generations are spending more on their pets, with some even going into debt.
Libby Rodney, CSO and futurist at The Harris Poll, told Newsweek that the findings made sense—younger people spend more than older generations because they view pets as a more integral role in their lives. However, it surprised her to see how much they were willing to spend and go into debt.'Pets are really becoming a persona or child-like experience in people's relationships where finance and funneling of funds are going to them,' she said.
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