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Kiplinger
Kiplinger
Business
James K. Glassman

THE TRUTH ABOUT: Pet stocks have slipped since covid is this an investing opportunity | History Defined

A cat sits next to a broken potted plant.

In October 2024, the Harris Poll asked Americans about pets and kids: "If you had to choose, which would you prefer in the future?" Of the 2,125 respondents, 18% said children, 43% said pets, and the rest said both. Harris also found that a majority of Gen Z pet owners would give up a year of their own lives if it would add a year to their pet's life.

In case you hadn't noticed, Americans have gone ga-ga over their pets. Some two-thirds of households own at least one, and, according to the Federal Reserve Bank of St. Louis, total spending on "pets, pet products and related services" reached $188 billion in 2024 (the latest data), up from just $40 billion in 2000. Pet ownership has been building since about 1990, but it rose sharply during the COVID era, with pets providing stay-at-home singles and families with companionship; 78% of Americans bought a pet during the pandemic.

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