A report by New York-based business research organization, The Conference Board on the changing composition of consumer demand in the upcoming decade predicts that the amount of money Americans spend on pet care services like dog walking will be on the rise – making it a great time to follow that dream of working with dogs and cats! On the other hand, the number of school-age children will be low, affecting jobs in the education sector.
The study essentially broke down consumer demands into categories like used cars, new cars, eating out, health, pets and home repairs. As the number of Americans between the ages of 70 and 84 spikes by 50 percent from 2015 – 2025, their expenditures will shift away from family obligations – like education, apparel and eating out – to areas that focus on their own priorities – like healthcare, home improvements and reading materials.
The researchers theorize that Empty Nesters will be feeling the need to nurture new pets and shower their current pets with the best of everything. Also, as they age it will become more difficult to perform pet care tasks that they may have once done themselves, like walking, bathing and grooming. Accounting for the rising consumer demand in the pet department.
As for the lag in education, the researchers found that the potential student population of 5- to 24-year-olds is growing very slowly due to the downsized, post-Millennial Generation Z opting to put off having children until they become more financially stable.
So if you’re trying to decide between becoming a teacher and pursuing a career in pet care, check out the study – it may just help you make up your mind!
H/T to Bloomberg.com
