With a booming trend for pet humanization, adoption, and pet parenting, it comes as no surprise that the pet industry will thrive globally over the coming decade. With growing pet care spending since 2011, the pet industry market size is about to reach $350 b. by 2027.
According to the most recent pet industry statistics, American pet owners alone spend more than $103 b. on pet care products.
With that, the American pet market holds a tremendous 42.5% share of global revenue.
Physical retail along with rising eCommerce have extended the US pet market with a vast variety of choice ranging from premium organic foods to pet technology products. More to that, pets are now an integral part of an American family.
GenZs and Millennials present the major category of pet owners within the large pet-owning demographics.
Our pet food industry analysis shows that pet care brands are expanding their assortment to meet individual needs and concerns shared by pet parents and their furry companions. Within a vast variety of choices, 630 pet food brands are satisfying a growing pet care demand.
In 2023, an annual spend on pet products has reached a staggering $103.6 b.
Following pet food and treats (40.5% of all pet product spending), American pet parents are mostly concerned about the health and well-being of their four-legged children. With that, 30% of pet care budget est. $31.4 b. goes for vet care and supplementary products.
Another major pet care segment is the pet grooming industry projected to reach $14.5 b. by 2025. With that, more than half of pet grooming budgets (52%) will be spent on pet shampoo and conditioners.
A rather promising pet industry trends are pet products for small and exotic animals. The market share for this pet care segment constitutes some $3 b. Further granulation of this lucrative pet care market segment entails breed type, individual diets, and special and habitat needs.
Among various pet types, Americans spend most on dogs $1,201, where food products account for $442, while vet care and vaccinations make up $241 accordingly. The next largest pet category are cats with an estimated $687 annual spend: an estimated $329 go for cat food and $125 for vet check-outs.
Organic pet food is among the most trending requests on the demand side:
Overall, American pet parents willingly spend extra money on high-quality pet foods to maintain an ethically-sourced diet.
Vitamins, probiotics, and CBD treats, like human-grade CBD oil, are all trending among pet supplement categories. Precisely, pet food brands are specifically designing CBD products for dogs:
Despite the benefits and overreaching conveniences of pet sales online, be sure to serve your local community of pet owners through physical in-store presence as an immediate touch point with your target consumers.
Your physical presence will attract hundreds of dog-walking pedestrians across your local area. Only by seeing your store open, pet parents will come in, browse your assortment, and eventually buy something.
A strategic switch to local brand positioning as a pet-friendly store is more than evident.
With the permeating power of retail, more retailers will strategically bid on hybrid locations, including wider spaces and offerings beyond inventory. The latter may range from local vet clinics and pet care clubs to creative event premises.
Pet industry success is in the diversification of primary offerings and partnering with supplementary industry sectors ranging from local vet clinics and yoga studios to grooming agencies. More to that, beyond the choice of the most popular pet products, pet-minded consumers will appreciate every single detail that leads to a memorable buying experience.
You’ll be an ultimate sales winner if you allow people to attend your store with their pets. There’s even a separate term among pet owners “separation anxiety” while everyone hates to leave their four-legged children outside, usually for weather reasons.
Physical pet presence is your star time to compliment people and their pets, as well as to express genuine interest in pet care routines, pet health, diets, well-being, and entertainment.
40% of American pet owners are anxious about leaving their pets home alone.
While a pet-friendly in-store atmosphere is what predetermines your overall success as a profitable pet care retailer, bet on experiential retail to drive individual consumer experiences.
Experiential retail, also referred to as ‘retailtainment,’ is your point of growth in your brick-and-mortar strategy. Pet care brands are adopting supplementary options and features to make their physical stores more attractive to physical consumers.
The concept of a pet-friendly store is all about driving positive pet care associations on a deeper emotional level.
All these attributes will make positive first-glance impressions among pet owner, distinguish you from competitors, and help you generate brand loyalty.
Beyond your retail space, do your utmost to impress pet parents with extra entertainment and emotional aftermath.
Among various possible options to retain your customers on a follow-up stage, be sure to:
While getting more sustainable and socially responsible, bet on aligning individual retail choices shared by pet parents with their personal values and shifting lifestyles.
While Millennial pet parents will make rational buying choices necessitated by daily diets, health, and well-being of their furry companions, Gen Zs are far more likely to make irrational and even abundant buying choices on the spur of the moment. This is where you can equally benefit from both categories of these offline shoppers by fairly playing on pet-centered emotions and empathic pathos.
As no other growing industry is underway, the pet care domain is about building emotional connections with consumers.
Two generations of pet parents (Millennials and Gen Zs) who take pets as family members closely associate pet care with self-care experiences.
Rather than ordinary consumers of physical goods and services, you should treat these customers as though they care about their own children. This is an essential strategic point that differentiates the pet care business from any other product or service domain.
In a myriad of omnichannel digital marketing opportunities, your strategic task here is to sustain a direct emotional connectedness with your customers. This is to say, there is no ‘product-first’ approach anymore.
Beyond actual pet product purchases, pet parents are looking for emotionally-resonating buying experiences they won’t find around the corner.
Create additional value for your brand by cherishing human-pet relationships
Your competitive advantage is in pursuing a direct-to-customer approach (DTC) emotionally. Pet parents will be coming back to you not to purchase more pet products or services, but because they have once recognized you as an emphatic pet-focused brand.
This is why, regardless of multiple marketing channels, human touch is your vital point of growth. A genuine human-pet relationship is what will differentiate you from the crowd and let you stand out ahead of the pack.
The more sincere you are with pet parents, the more revenue you’ll generate
Pet empathy is the key to driving rational and spontaneous sales. Be sure to communicate essential pet care needs with your customers beyond pure sales. Pursuing face-to-face chats with pet owners and showing genuine interest in the well-being of their furry companions is much more important than actual selling.
Asking pet shoppers about their pets works wonders.
Our expert says: We’ve already concluded that pet parents are willingly buying beyond their initial intent. As a pet business owner, your strategic task here is to bet on the human touch as an essential part of cross-selling and upselling offers. Kate Husachenko, Marketing Strategist at Promodo.
While pet parents are keen on shopping in physical local pet stores, 30.1% of pet product sales come from eCommerce companies.
Pet food products and supplies are atop of eCommerce consumer packaged goods (CPG). The most searched categories online are:
Product: Donut Dog Bed
5-year search growth: 750%
Monthly searches: 6,600
Average Cost: $27.99
5-year search growth: 220%
Monthly searches: 165,000
Average Cost: $23.70
Product: Slow Feeder Bowl
5-year search growth: 187%
Monthly searches: 1,900
Average Cost: $15.99
Product: Dog Calming Bed
5-year search growth: 167%
Monthly searches: 4,400
Average Cost: $29.99
Product: Freeze Dried Dog Food
5-year search growth: 150%
Monthly searches: 9,900
Average Cost: $24.99
Product: Portable Dog Water Bottle
5-year search growth: 120%
Monthly searches: 3,600
Average Cost: $27.99
Product: CBD Oil For Cats & Dogs
5-year search growth: 112%
Monthly searches: N/A
Average Cost: $34.43
5-year search growth: 87%
Monthly searches: 33,100
Average Cost: $31.32
Product: Dog Vitamins
5-year search growth: 30%
Monthly searches: 9,900
Average Cost: $35.97
Product: Pet Fountain
5-year search growth: 28%
Monthly searches: 3,600
Average Cost: $23.16
Product: Automatic Ball Launcher
5-year search growth: -
Monthly searches: 1,000
Average Cost: $99.99
Beyond physical brick-and-mortar interactions, the same is true for social media connections. Stay in touch with your current and potential audiences of pet parents as a reliable source of pet care advice 24/7.
It is a common practice when pet owners expect a friendly chat with one of your human consultants. Use live chats to develop intimate connections with your target audience.
Over the last years, pet parents have established themselves as active social media users up to:
Get in touch with pet care professionals
Share pet photos and videos
Share pet parenting experiences
Create social media accounts for their pets.
Human touch is explementary among vast population of the U.S. pet parents online:
Brand-choosy and tech-savvy, pet parents follow (and often determine) digital shopping trends across the industry. Grown up in a digital reality, the younger generation of Millennials (aged 26-38) and Gen Zs (aged 18-26) prefer shopping online for:
- Immediate answers/solutions
- Open communication & feedback
We have spotted major shifts in the Covid-19 aftermath with the regaining tendency for online shopping among pet parents:
A diverse audience of pet parents narrows down to five types:
1) Fashionista pet parents are predominantly Gen Zs and younger generations of Millennials who are stylish and focused on the hottest trends like cute pet outfits. Fashionistas are most likely to attend photoshoots and pet fashion shows. These chic-centered customers prefer personalized pet care products and prioritize pet clothing: anything from pet bandanas to full-on costumes.
2) Homebody pet parents present the audience of homesitters that like to stay with their fur babies at home. They are 100% comfort-focused and adjust inner space for maximum pet relaxation.
3) Fitness enthusiasts are the most active lifestyle (sporty) pet parents who never leave their fur companions home alone; they take their fur babies with them wherever they go. They also like playing with their pets and are major consumers of branded pet toys. Fitness enthusiasts are keen visitors to local pet-friendly events, fun runs, and pet shows.
4) Outdoorsman pet parents are keen on taking their pets hiking at the weekends to explore the beauty of nature and landscapes together.
5) Suburbanite pet parents move away from the noise of the big city to much quieter places. They like to communicate with pup parents and share their experiences on pet-friendly hangouts.
If you would like to expand your assortment with these bestselling pet products and pursue a sound digital marketing strategy, Promodo marketers are here to facilitate you underway.
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