Ron Reich, former attorney, is the co-founder of several dog-related websites who recently sponsored a Google survey to track spending habits of young parents concerning pets and children. The survey was commissioned over the recent holiday spending season.
The results of the survey published in Reich’s recent press release state that younger parents aged 25 to 34 are nearly 30% more likely to spend money on their pets than their children during Christmas than parents over the age of 34.
Reich says that pet retailers can expect a strong retail season in 2014, whereas companies that cater to children, such as toy companies, may see diminished sales.
"Pet retailers may even want to target their marketing specifically to cater to that younger demographic," Reich advised.
Reich also speculates that the rise of social media might have something to do with this latest trend.
"With so many people posting pictures of their pets on sites like Facebook, Instagram and Pinterest, the competition for parents to show the world how spoiled their pets are is at an all-time high," said Reich.
Reich reported that the survey also indicated that income plays a huge factor on whether parents spend more money on their pets or their children during Christmas. He says parents who earn over $25,000 per year are 51.2% more likely to spend money on their animals than their children.
Read more details about the survey and find ways to contact Ron Reich at the press release link above.
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