A lot of Millennials are now Choosing Pets Over Kids

A lot of millennials are now owning pets instead of having kids. And the number of such people is increasing rapidly across the world. Due to this, the demand for different types of pet accessories is also increasing on a large scale.

One of the common reasons for it is the lifetime cost of raising a pet is much less than the investment required for raising a child. As per the available data, it takes about 21,000 to 33,000 pounds to raise a pet whereas lifetime childcare costs stand at 230,000 pounds in total.

It is found that women and young couples are more inclined to the idea of owning a pet instead of raising a child. Moreover, increasing awareness about the benefits of keeping a pet has also increased the value of a pet in people’s lives. Mostly, millennials are choosing a dog over other pets.

In order to take the right care of their dog, people are choosing dog care products like dog leashes. The sale of various types of fashionable dog clothing, dog toys, harnesses, collars, and other dog accessories is increasing at a global level.

Due to the millennials’ choice of owning a pet over having a baby, the global pet industry has crossed the mark of $70 billion. A lot of millennials believe that owning a pet provides them purpose without making sacrifices.

Another reason for it is the inability of women to devote proper time to their children because of a busy office schedule. Now, women want to invest their free time at home in raising a pet instead of having a baby. It requires much less effort on the part of every woman.

Leave a Reply

Your email address will not be published. Required fields are marked *