DINKS and DINKWAPS: the new consumer powerhouses

They are reshaping spending priorities, from luxury pet care to adventurous travel. It's time brands woke up to the needs of the Dual Income No Kids.

How do you categorise people? In research, it’s typically as students and young adults, family, older families and empty-nesters. But these categories are outdated, built on the assumption that people’s life trajectory is based around having children. They fail to recognise the shifting priorities of millennials, Gen Z and even those in older generations.

Maybe it’s time to add another category, already very much live on social media: DINKS. It stands for Dual Income No Kids, a group embracing the freedom that comes with having disposable income without the costs of raising children.

According to a Pew Research Center survey, the proportion of adults under 50 in the US who do not have children is growing — jumping from 37% in 2018 to 47% in 2023. In the UK, the fertility rate – which measures how many children are born per woman during her child-bearing years – for 2024 was the lowest on record at 1.44. Across Europe, the fertility rate has also been dropping, to 1.46 in 2022.

Another survey, by MarketWatch, found that 50% of childless couples in the U.S. don’t ever want kids, 25% said they plan to soon, and 23% said they would at some point. The top two reasons for not currently having children were financial freedom and the day-to-day flexibility of not having children.

So, where are they spending their money? And how can brands react to this shift?

New priorities: pets

When JD Vance’s dismissive comments about “childless cat ladies” surfaced, it showed not only his disdain for women but also a complete lack of understanding of the shifting attitudes towards children and pet ownership. In fact, today, people increasing choosing pets over children, and shouting loud and proud about it.

It’s understandable, as the cost of raising a child continues to grow – estimated to be around £150,000 - £200,000 over the course of a child’s life to 18 in the UK, whereas Battersea Dogs Home estimates it costs around £2,000 a year to take care of a dog – and traditional ideas about what “family” looks like evolve. Pets are an appealing option: they offer companionship, freedom and something to spoil.

As of 2023, over 66 percent of Americans reported having at least one pet. In the UK, the pet care market has grown into a £10 billion industry, with much of the growth driven by a dramatic shift toward premium and luxury pet products, according to Forbes. In an article in the Telegraph that year, Tom Woods and Mags Doyle spoke about Atticus, their three-year-old Lhasa Apso “who really is living his best life”.

‘“If somewhere isn’t dog-friendly, chances are it’s not somewhere we’ll spend our money,” according to Mags. “He’s part of our family, we don’t want to leave him behind if we can avoid it.”’

Similarly, George Bridges, told the paper he would “always spend more on the dogs than I would myself. They have luxury collars, leads, bowls, blankets and beds, and they get treats and lots of toys.”

To appeal to this DINKWAPS (dual income no kids with a pet) brands will need to understand the elevation of pets in the home. They want to feed them high quality, human-grade food, and are buying them luxury beds and accessories. It’s “pet humanization”, according to one BBC report.

In 2024, Nationwide’s Spending Report found that spending on pets had jumped 76 per cent in the past five years. And this is not just a trend that relates to couples: more and more single men and women are taking on pet ownership. The pandemic highlighted just how easy it was to feel isolated, and pets offer companionship and bring structure to daily routines.

Travel takes precedence

Travel is also frequently highlighted on social media as a priority for DINKs. The MarketWatch survey found that 48% of respondents would spend their spare cash on travel, with childless couples across all generations - Gen Z, Millennials, Gen X and Baby Boomers – choosing travel as the top expense to spend it on. At the same time, research by Hotels.com shows that 41 per cent of the DINKs surveyed had put off having kids so they can enjoy more adventurous holidays.

For brands, this means taking a deeper look at what DINKS are looking for from their travel: adventure? Relaxation? Cultural experience? Escapism? All of the above?

It's also an opportunity for travel brands to provide for DINKWAPS & SINKWAPS, how can they make their offerings more pet friendly? What ways can these people who love their pets like children be made to feel that their pets are well looked after while they’re on holiday?

Financial freedom

While acronyms and TikToks offer a lighthearted take on people’s shifting priorities, they reflect very real considerations and diverse lifestyles. It’s something that brands need to bear in mind, they don’t want their choices diminished or minimised.

DINKS are largely thought of as childless by choice, but there are those who have embraced the lifestyle that was perhaps not what they had envisioned. It doesn’t mean they hate children, or want to be pitted against those with kids, but have made choices based on their priorities.

This group is going largely overlooked by research, falling between the cracks of “young family” and “pre-family”, but they are different. They have different needs, but they do have spending power.

If you’re interested in finding out more about how DINKS intersect with your brand, get in touch.