“Pet Parents” Are Shaking Up $75 Billion Pet Industry, New Data Shows
Orlando, Fla., October 29, 2019 — A new study shows the “dog mom” trend is here to stay, signaling shifts in consumer preferences and behaviors that are poised to reshape the $75 billion pet industry.
Orlando-based advertising agency Bigeye released its 2019 Pet Industry Study, which reveals how “pet parenting” is reshaping the landscape for the consumer packaged goods and retail industries. Researchers conducted a 45-question online survey of 784 pet owners aged 25 to 55 across the United States, finding that:
- Thirty-four percent of owners say their pet influenced where they live.
- Forty-two percent of pet owners who haven’t used cannabidiol (CBD) products on their pets would consider trying it.
- Ninety-five percent of owners consider pets members of their families.
“It’s official: Pet owners are the new parents, and young people in particular see their pets not as a luxury, but as a necessity they’re willing to splurge on,” said Adrian Tennant, VP of Insights at Bigeye, who led the research team. “They’re dressing their pets up, giving them nutritional supplements, and basing where they live around them, just as they would with human children. And they’re increasingly open to subscription-based services that enhance convenience.”
Tennant added, “This shift toward humanizing our pets will dramatically affect everything from product design and distribution to brand premiumization. In particular, strong generational preferences will drive placement in media-buying strategy. Smart brands will listen to the voices of their customers and adapt to these changes.”
The study contains insight into:
- Behaviors and attitudes that characterize different groups of pet owners
- Key factors that owners use to make purchase decisions regarding their pets
- How pet owners interact with various advertising formats
- What prompts pet owners to try new products and services
In conducting the study, Bigeye set out to augment its knowledge base for developing successful marketing strategies for pet care companies with fresh insights on audience attitudes and behaviors. It also sought to develop a valuable free resource for organizations that provide pet products and services.
“We’re using this research to sharpen our focus on the audience that pet industry clients have to connect with in order to grow their businesses,” said Justin Ramb, Bigeye president and CEO. “Our account teams are leveraging the data that Adrian and our researchers have compiled to craft marketing strategies that are even more nuanced and effective.”
The report is available for download here.