Gen Z More Likely to Take as Many Photos of Pets as Family Members

Millennials spend more on their pets than other generations.

Young goldendoodle feeling cozy resting on the sofa and looking at camera. Oscar Wong/Getty Images/TNS

Research released by the Commonwealth Bank of Australia (CBA) found that Millennials and Gen Z are more inclined to snap as many photos of their pets as their families, in comparison to older generations.

Specifically, 76 percent of Gen Z pet owners take an equal number of photos of their pets as they do of their family members.

This compares to 75 percent of millennials, 65 percent of Gen X, and 55 percent of baby boomers.

In addition, the research showed that millennials are more likely than baby boomers to want to spend just as much time with their pets as they do with family.

The data revealed that 90 percent of millennials like to enjoy an equal amount of time with pets and family, compared to 82 percent of baby boomers.

Millennials Spend the Most on Pets

When it comes to pet expenses, the research showed that millennials spend more than double the amount that baby boomers spend on pets per month.

On average, a millennial allocates $357 (US$235) each month for their pet, compared to $173 for baby boomers.

In contrast, Gen X spent $282 on their pet on average per month, while Gen Z forked out $257.

Vanessa Rowe, CBA’s general manager of insurance partnerships, recently teamed up with the bank with PetSure to offer pet insurance to customers, highlighting that most pet owners see their animals as integral family members.

“Ninety percent of pet owners see their pets as fully-fledged family members, so it’s not surprising they spend so much time and money on them,” Ms. Rowe said.

“PetSure claims data from 2016 to today shows that 1 in every 5 pets have a lifetime healthcare cost exceeding $50,000.”

The study also revealed newer pet owners are more likely than long-term pet owners to have a pet insurance policy.

The data showed that 41 percent of newer pet owners of up to five years have a pet insurance policy, compared to 22 percent of long-term pet owners.

Gen Z Prioritise Pets Over Partner For the Family Home

Meanwhile, a survey by Zillow released in April 2023 found that Gen Z would place their pets’ needs ahead of partners or kids if they were buying a home.

Conducted by The Harris Poll, the Zillow commissioned research found that three in five Gen Z adults consider pet-friendly features essential in a home they would buy.

A total of 48 percent see a fenced backyard as a must-have, compared to 35 percent who see a home office for their partner as essential.

A couple scratch their pet dog at home. Prostock-studio/Shutterstock

The study found that 55 percent of Gen Z pet owners believe it is more important to have a pet-friendly home than a kid-friendly home.

Zillow home trends expert Amanda Pendleton said young adults may be delaying parenthood, but they are not putting off pet parenthood.

“One recent study finds most Gen Z adults would rather have a pet than a child. As this younger generation ages into their home-buying years, it follows that their pets will have a greater influence on their moving decisions, perhaps more so than their significant other,” Ms. Pendleton said.