So says Walmart, which on Tuesday announced it's looking to tap into that lucrative younger market by launching an online pet pharmacy and in-store veterinary clinics.
Walmart already operates 21 veterinary clinics in six states, and will open nine more in Texas later this month and in June in the Dallas-Fort Worth area.
The retailer in 12 months will have 100 clinics running where pet owners can bring their animals to be vaccinated or examined for minor illnesses, it said.
The retailer has also expanded its online assortment to include more organic and grain-free pet food options, including a private-label brand with ingredients such as farm-raised chicken.
Millennial dog owners spend as much as $1,285 a year on their four-footed friends, with the majority of that going toward vet care and vaccinations, food and supplies, Walmart said in a blog post, which cited TD Ameritrade for the estimate.