Americans spend $ 690 on their pets and Cincinnati are the most obsessed with pets

In anticipation of National Pet Day, LendingTree’s research explores subway areas that are most obsessed with pets

CHARLOTH, NC, April 5, 2022 / PRNewswire / – LendingTreeĀ®The country’s leading online lending market has launched study exploring pet ownership across the US April 11 to celebrate National Pet Day, the survey found that women, newborns and Cincinnati The inhabitants are the most obsessed with pets. Women spend more on pets than men, baby boomers spend more on pets than any other generation, and Cincinnati The subway area has more pet stores per capita than any other subway area in the United States. In addition, the study found that American households spend on average $ 690 to their pets.

Important findings

  • Cincinnati is the US subway with the most pets. An analysis of data from the 50 largest U.S. subways shows Ohio The metro has 1.93 pet stores per 1,000 businesses – the most in the country. Bridgeport, Conn. (1.89), and Buffalo, New York (1.83), next ranking.
  • Birmingham, Ala.is the US subway that is less obsessed with pets. The Alabama The metro has 0.77 pet stores per 1,000 businesses. San Jose, California (0.90), and Oklahoma City (1.02) is right in front.
  • Pet spending has increased by 50% and households spend on average $ 690 in petsabove $ 460 from 2013. From 2013 to 2020, In total Expenditure increased by 20%, which means that pet expenditure increased 2.5 times faster.
  • Women spend more than men on pets. Singles spend on average $ 504 one year for pets while men spend on average $ 381.
  • Baby boomers spend most of their time on pets. People born between 1946 and 1964 spend on average $ 834 in pets. Gen Xers spend $ 700millennials pass $ 695and Gen Zers spend $ 42 to their pets.

Metro areas most obsessed with pets:

  1. Cincinnati, Oh
  2. Bridgeport, CT
  3. Buffalo, New York
  4. Columbus, OH
  5. Seattle, Washington
  6. Philadelphia, PA
  7. Portland, OR
  8. Tampa, Florida
  9. Hartford, CT
  10. Providence, RI

To see the full report, visit
https://www.lendingtree.com/personal/pet-obsessed-metros-study/

Methodology

LendingTree researchers analyzed the U.S. Bureau of Labor Statistics (BLS) Consumer Expenditure Surveys from 2013 to 2020 to find out how much Americans have spent on their pets over time and with various demographics.

Note that gender data looks at the two-year 2019-2020 averages from the BLS Consumer Expenditure Surveys, while production data looks at 2020 – both based on the most recent information available.

We have defined generations up to the following ages in 2020, according to BLS data:

  • Generation Z: Year of birth 1997 or later
  • Millennial: Year of birth from 1981 to 1996
  • Generation X: Year of birth from 1965 to 1980
  • Baby boomer: Year of birth from 1946 to 1964
  • Silent Generation: Year of birth 1945 or earlier

LendingTree researchers also analyzed data from the U.S. Census Bureau’s Business Motif Survey – the most recent available – to rank pet-obsessed metropolitan stations.

In particular, the researchers compared the number of pet stores with the total number of businesses in each of the 50 largest U.S. subways. We then ranked these subways based on which had the most pet stores in relation to the total number of businesses.

About LendingTree

LendingTree is the country’s leading online marketplace that connects consumers with the options they need to be confident in their financial decisions. LendingTree enables consumers to make smarter financial decisions through choice, education and support. Consumers can compare multiple offers from a national network with over 500 partners in a single search and can choose the option that best suits their financial needs. Services include mortgages, mortgages, car loans, personal loans, business loans, student loans, insurance, credit cards and more. Through the connected experience, consumers receive free credit scores, credit tracking, credit enhancement recommendations, and alerts when proprietary algorithms identify a savings opportunity. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, go to www.lendingtree.comcall 800-555-TREE, like our Facebook page and / or follow us on Twitter @LendingTree.

COMMUNICATION THROUGH:
Nelson Garcia
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704-943-8208

SOURCE LendingTree.com

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