Poster Number

126

Session Title

Wages and Economics

Presenter Information

Taylor HendrixFollow

Document Type

Poster Presentation

Faculty Mentor

Louis Pantuosco, Ph.D.

College

College of Arts and Sciences

Department

Department of Accounting, Finance, and Economics

Description

The pet industry employs over a million people in the United States alone and has continued to grow and flourish every year, without taking a dip or standstill during a recession. This paper dives into the psychology and millennial influence in the pet industry. Janice Arenofsky from the Sage Business Researcher has stated that “the pet industry is considered virtually recession-resistant.” It is rare that any industry doesn’t take a hit during a recession. According to the American Pet Products Association, within the past ten years, the pet industry has nearly doubled in growth every year. The APPA also found that Americans tend to spend more on their pet care than milk, bread, or chicken. It’s come to the conclusion that most millennial households, which usually have children later in life, choose pets and treat them as part of the family. When money is limited, families continue to fund pet-related expenses for their “fur babies.”

Course Assignment

ECON 345 – Pantuosco

Included in

Business Commons

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Apr 24th, 12:00 AM

Millenial Influence on Labor in the Pet Industry

The pet industry employs over a million people in the United States alone and has continued to grow and flourish every year, without taking a dip or standstill during a recession. This paper dives into the psychology and millennial influence in the pet industry. Janice Arenofsky from the Sage Business Researcher has stated that “the pet industry is considered virtually recession-resistant.” It is rare that any industry doesn’t take a hit during a recession. According to the American Pet Products Association, within the past ten years, the pet industry has nearly doubled in growth every year. The APPA also found that Americans tend to spend more on their pet care than milk, bread, or chicken. It’s come to the conclusion that most millennial households, which usually have children later in life, choose pets and treat them as part of the family. When money is limited, families continue to fund pet-related expenses for their “fur babies.”

 

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