Many Holiday Gift Lists Include Pets, Poll Reveals
Half of U.S. shoppers are planning to drop money on their pets this holiday season, spending an average of $137 on them.
That Dood Squad
Half of U.S. shoppers won’t be skimping out on spoiling their pets with gifts this holiday season, according to a poll conducted by Atlanta-based SunTrust Banks. In fact, the SunTrust National Financial Confidence Poll found that these pet owners plan to spend an average of $137 on their pets during the holidays.
“For many people, pets are members of the family, so it’s expected that we would want to include them in the holiday fun,” said Brian Nelson Ford, financial well-being executive at SunTrust. “Our studies show that the holiday season often comes with pressure to overspend. Gifts for pets, friends, neighbors and other obligations can add to the pressure when the spending is unplanned. It’s important to be upfront about what we care about and build our holiday spending plan to enjoy the memory-making moments of the holidays.”
While the gift-giving stats are inclusive of both dogs and cats, the poll revealed that dog owners are significantly more likely to buy a gift for their furry companion (59 percent) compared to cat owners (34 percent).
So, what are they giving? The most common selections, according to the poll, are new treats and toys (65 percent and 61 percent, respectively), followed by holiday clothing (19 percent).
Younger pet owners are significantly more likely to buy their pets a gift this season, leading with gen Z (63 percent) and millennials (57 percent), followed by members of gen X and boomers (51 percent and 46 percent, respectively), according to the poll.
SunTrust recently teamed up with That Dood Squad, a social media company also based in Atlanta, to capture the poll results in a series of photos.
The SunTrust National Financial Confidence Poll, as described by SunTrust, is fielded quarterly and representative of the U.S. adult population, with 2,500 participating Americans of different ages, incomes and geographic regions. The poll defines gen Z as those born between 1997-plus, millennials as those born between 1981 to 1997, gen Xers as those born between 1965 to1980 and boomers as those born between 1946 to 1964.