Published at Thursday, April 11th, 2019 - 02:11:25 AM. Home Decoration. By Alvarie Schröder.
The amount of money Americans spend to keep their pets happy is also on the rise. In 2015, pet owners spent almost $61 billion on food, toys, furnishings, and other pet goods, a 25 percent jump from five years before, according to APPA. Data from the U.S. Bureau of Labor Statistics and other sources seems to suggest that this type of spending is more resistant to economic shifts, such as the recent recession. And theres reason to believe demographics will support this trend long-term, particularly as pet-centric millennials move into homes. Last year, a story in Adweek suggested the fact that many millennials see pets as “starter children” offers an opportunity for brands.
Why its happening: For the millennial generation, quality supersedes quantity. But this isnt limited to their desire for smaller, better homes, says Chicago designer Rebecca Pogonitz of GOGO design group. It also applies to what they choose to put inside their homes when they decorate. “Its not about keeping up with the Joneses. How they live dictates their choices,” she says. “Theyre very practical about the money they spend, often researching and gathering ideas from sites like Houzz and Pinterest that mix high and low, and then asking experts to cull and complete a look.”
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