Examining US Bureau of Labor Statistics (BLS) data gives us a snapshot of pet spending trends by demographics.
Pet Spending by Generation
Despite millennials holding the pet-obsessed stereotype, BLS data shows they actually spend less on their fur babies each year ($731) than Generation X ($866) and boomers ($793) ) on average.
Although Generation X spends the most money on their pets, they spend the least amount compared to income at just 0.68%. Baby Boomers spend more at 0.96% of their income. Meanwhile, despite a nearly $400 difference in actual spending, millennials and the Silent Generation spend similar proportions of income at 0.72% and 0.75%, respectively.
Pet Spending by Gender
In terms of pet spending by gender, women appear to be more likely to spend than men. Single women spend an average of $647 per year on their pets (1.57% of their income), while single men spend an average of $282 (0.56% of their income). Men’s spending is down from 2021, when they spent $367 a year, while women’s spending is up from $575 in 2021.
Certified dog trainer and blogger Aleksander Mishkov of The Daily Tail says this may be due to the rise of pet influencers on social media sites like Instagram, where the majority of users are women. But he also noted how the difference in how men and women view their animals can be a factor.
“Single women tend to view their pet as their child, while single men view their pet as a companion,” says Mishkkov. “And you always spend more money on your children.”
Pet Spending by Region
In 2021, pet parents in the Western US spent the most on their fur babies. In 2021, the West’s spending fell and the Midwest’s increased, jumping from $691 annually to $820. The Northeast and the West saw decreases in pet spending, while the Midwest and the South saw increases. The chart below shows average pet spending by region as a total number.
Relative to average income, pet owners in the Midwest also spend the most. Midwestern pet parents spent 0.90% of their income on pets, while the Northeast spent 0.66% and the South spent 0.78%. The West spent 0.78%, a significant decrease from the 1.10% of income spent on pets in 2021.
International Pet Spending
A 2023 MarketWatch Guides study found that the average lifetime cost of owning a labrador retriever in the US is $28,801. In the UK, the lifetime cost is $27,787 (or £22,229). When stacked against state-by-state averages, the UK ranks 27th–more expensive than South Carolina ($27,963), but less expensive than North Carolina ($27,766).
Based on data from 2022 and 2023, the UK outspends the US on pet food per year at $599 compared to $447 but is catching up on medicines. The Royal Veterinary College will vaccinate a British pup for $83 (£67), but an American dog could see a vaccine bill of nearly $200 for multiple shots.
