Older Americans lead the nation in pet spending, but not by much.

The typical American household spent $741 on their pets in 2022—up from about $583 in 2013 (adjusted for inflation).

Millennials may be known as the generation that adopts pets rather than having children, but recent data shows that their actual spending on fur babies was slightly higher than older age groups. one E-tail pet Analysis of 2022 Bureau of Labor Statistics Consumer Expenditure Survey It found that spending increased among most age groups in 2021, followed by adults of retirement age in 2022, which led to a large increase in pet spending in 2021.

BLS analysis shows pet spending nationwide. 102.8 billion dollars in 2021.About 78% higher than in 2013 and growing at nearly twice the rate of overall spending. The COVID-19 pandemic accelerated the current increase in pet spending, as did the costs of animal care and other pet services. Petco CEO Ron Coughlin told investors that today’s “pet parents” are humanizing their animals and, as a result, are spending more on everything from specialty foods to stylish accessories.

National pet spending did A slight drop in 2022 Nearly $99.3 billion has been reached as work-from-home policies have returned during the pandemic and as a result The prospect of pet adoptions has slowed.. After a large increase in 2021, spending on pet purchases, supplies, medicine and doctor’s services declined in 2022. However, spending on pet food and services continued to rise.

Whether it’s a first pet, the new youngest of an empty nester, or an elderly retirement companion, people of all ages spend hundreds a year on the cats, dogs, and critters they consider part of their family.

Keep reading to learn more about who’s spending the most on their pets.

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