If you’re a cat or a dog lover, it probably doesn’t come as a shock that today’s dedicated pet owners spend a lot of dough on their furry friends. With an estimated 84.6 million Americans owning at least one pet, it seems that more and more people are taking on the responsibility of being pet parents – and judging from the amount of money being spent on pet products, are proud of it!
The pet industry is the seventh largest retail industry in the US – in fact, pet care is one of the fastest growing industries. The American Pet Products Association (APPA) just released their pet market opportunity survey with some interesting findings:
- From clothes to medical care, Americans are expected to spend an estimated $58.5 billion on their pets in 2014
- Pampering your pet? Money is no object here – total spend on grooming and spa days will be estimated to be at $4.73 million for 2014
- Eating clean isn’t just for us humans – In 2012, an estimated $4.1 billion was spent on organic and natural food products for pets
About a third of pet owners are Baby Boomers, followed by Gen Y (25 percent) and Gen X (25 percent). The survey also revealed that those who had a pet during childhood were more than likely to want to their own children to have the same experience.
The emotional connection with the beloved dog or cat has served pet product marketers very well. While for awhile now, we now see our furry friends as a method to sell other non-pet specific related products such as cars and furniture.
If you run a pet product company or pet service company and are interested in getting your business to the next level with a marketing program, contact us today for more information about our boutique marketing services!