New York — Millennials love their pets, and that love’s showing up on their holiday credit-card bills. The much-discussed generation of shoppers, known for their industry-disrupting tastes, will spend heavily on their pets this holiday season — more than double what consumers overall are expected to pony up, according to a report from PwC. Millennial households earning $70,000 or more will be the biggest spenders, forking out more than an average of $183 for pet gifts this holiday, compared to the $67 that overall consumers will spend, according to PwC. High-earning millennials, feeling good about the economy, will spend an average of $2,021 on all gifts this holiday season — including for humans. The holiday spending comes as pet owners increasingly treat their animals like members of their families — a trend known as “humanisation” — boosting spending for premium pet food and toys. “It’s the same kind of joy you get when you bring home a gift to a small child,” said Lori Kogan, a ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now