Cash-rich, time-poor under-40s are driving up sales of pyjamas and birthday cakes
They spend their days lazing about on memory foam mattresses, slurping non-alcoholic wine and wearing gadgets that track how much exercise they do. This is not a typical day in the life of a young person – but rather, in that of their beloved dog or cat.
Cash-rich, time-poor millennials, often living alone or without children, are fuelling a spending boom on pets, according to data research company Mintel. It is predicting a 25% increase over the next five years on the estimated £1.7bn owners will spend on their domestic animals in 2018.
Pawsecco, anyone? Millennials splurge on pampered pets