As millennials delay traditional milestones, like getting married, buying a house, or having children, they're choosing to be dog owners instead.
love their dogs — so much that they're willing to spend more than $400 on clothes for them.
That's the price of a high-end dog puffer jacket from a collaboration between luxury brand Moncler Genius and Poldo Dog Couture,They're not the only ones to tap into the luxury dog clothing market — Very Important Puppies offers streetwear-inspired dogwear for between $160 and $202, and fashion brand Hemsmith launched a line of dogwear that includes a crewneck tee for $48 and hoodie for $60, Bobila reported.
As for who's driving the lucrative petwear industry,"we can look to millennials, who are now in their 20s to late 30s — an age range that, historically, has had to do with marriage and parenthood, but may not be the case these days," wrote Bobila. "As a generation that puts off having children or opts out of it entirely, they're putting greater focus on pets instead," Emily Anatole, insights director at cultural strategy and trend forecasting company Cassandra, told Bobila."Many are treating their pets as if they were kids and devoting a growing share of their disposable income to them."
Over the last year, 14% of millennials bought a luxury item in pet-care category — not far from the 18% of millennials who made luxury purchases on children's items, reported Bobila, citing stats from Anatole.
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