Americans spend $690 on their pets and Cincinnati residents are the most pet-obsessed

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Ahead of National Pet Day, LendingTree survey explores the most pet-obsessed metro areas

CHARLOTTE, North Carolina, April 5, 2022 /PRNewswire/ — LendingTree®the country’s leading online lending marketplace, released its study explore pet ownership in the United States with April 11 marking National Pet Day, the survey found that women, baby boomers and Cincinnati residents are the most animal-obsessed. Women spend more on pets than men, baby boomers spend more on pets than any other generation, and Cincinnati The metro area has more pet stores than any other metro area in the United States, per capita. Additionally, the study found that U.S. households spend on average $690 on their pets.

Main conclusions

  • Cincinnati is America’s most animal-obsessed subway. A breakdown of data from the 50 largest US metros shows the Ohio Metro has 1.93 pet stores per 1,000 businesses, the most in the country. Bridgeport, Conn. (1.89), and Buffalo, NY (1.83), next row.
  • Birmingham, Alabama.is America’s least animal-obsessed subway. the Alabama Metro has 0.77 pet stores per 1,000 businesses. San Jose, California. (0.90), and Oklahoma City (1.02) are just ahead.
  • Spending on pets has increased by 50% and households are spending on average $690 about petsfrom $460 since 2013. From 2013 to 2020, globally spending increased by 20%, which means spending on pets grew 2.5 times faster.
  • Women spend more than men on pets. Single women spend on average $504 per year on pets while men spend on average $381.
  • Baby boomers spend the most on pets. People born between 1946 and 1964 spend on average $834 on pets. Generation X spends $700millennials spend $695and Gen Z is spending $42 on their pets.

The most animal-obsessed metropolitan areas:

  1. Cincinnati, Ohio
  2. Bridgeport, Connecticut
  3. Buffalo, NY
  4. Columbus, Ohio
  5. Seattle, WA
  6. Philadelphia, Pennsylvania
  7. Portland, OR
  8. Tampa, Florida
  9. Hartford, Connecticut
  10. Providence, RI

To view the full report, go to
https://www.lendingtree.com/personal/pet-obsessed-metros-study/

Methodology

LendingTree researchers analyzed US Bureau of Labor Statistics (BLS) Consumer Expenditure Surveys from 2013 to 2020 to determine how much Americans spent on their pets over time and across various demographics. .

Note that the gender data is for the 2019-2020 two-year averages from the BLS Consumer Expenditure Surveys, while the generation data is for 2020, both based on the latest information available.

We defined generations as 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 2019 County Business Patterns Survey — the latest available — to rank the most animal-obsessed metros.

Specifically, the researchers compared the number of pet stores to the total number of businesses in each of the 50 largest US cities. We then ranked these metropolises according to those with the most pet stores relative to the total number of businesses.

About LendingTree

LendingTree is the nation’s first online marketplace that connects consumers to the choices they need to be confident in their financial decisions. LendingTree empowers consumers to make smarter financial decisions through choice, education and support. Consumers can compare multiple offers from a nationwide network of over 500 partners in a single search and choose the option that best suits their financial needs. Services include mortgages, mortgage refinances, auto loans, personal loans, business loans, student loans, insurance, credit cards and more. Through the Connect experience, consumers receive free credit scores, credit monitoring, recommendations to improve credit health, and notifications when the proprietary algorithm identifies a savings opportunity. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, visit www.lendingtree.com, call 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.

MEDIA CONTACT:
Nelson Garcia
[email protected]
704-943-8208

SOURCE LendingTree.com

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