The cliche is that pets look like their owners- but will they use the same products? The theory at IMC is that the trends in human products are very good indicators of what owners will buy for their pets. A recent survey conducted by Vibrant Nation sheds some light on the subject.
An all encompassing one hundred percent of women ages 45-68 surveyed claim that they consider their pets to be full members of their family. These pet owners are constantly looking for new and better ways to care for their pets’ health and well being. The passion they have for their pets creates a tremendous amount of opportunities for expanded product creation and development.
The categories which these pet owners are most responsive to are Nutrition, Travel Monitoring, Health Care Insurance, and Luxury Items.
46% of those surveyed want better nutrition and exercise for their pets. This signifies a desire for more healthy and organic pet foods, including those created by companies not traditionally associated with pets. Imagine buying food for your human family and for your animal family from the same name brand. Soon they’ll be sitting at the dinner tables with us, and that’s just the way these women want it. Health items such as water filtration systems would also be considered by this clientele.
52% of pet owners travel with their pets, and only a very small percentage of those are able to do so easily. 54% said that they have difficulty making travel plans because of pets. Products which would ease pet travel and make it more accessible, such as carrying cages, portable food dispensers, or a good friend in the TSA would be completely welcome. Additionally, 48% of those who travel and leave their pets at home worry about their pets when they are gone, and some of them would be willing to consider a pet monitoring device.
Healthcare is currently one of the smallest areas of pet care, with arguably the largest potential for future growth. While less than 8% actually have health insurance for their pets, 48% are concerned about their pets’ health. In addition to insurance, products for sick or aging pets, such as more comfortable beds or furniture that make it easier for the pet to rest; prescription arthritis medication and hip replacement surgery are concerns.
Lastly, pet parents love to indulge in luxury and apparel items for their loved ones. 62% would purchase luxury items such as collars and leashes, while 25% would purchase clothing items. These are well established areas, but innovative designs and ideas, such as collars and leashes that make it easier for aging arms to restrain a strong dog without causing either of them pain would be well received.
Ultimately, the pet industry is a growing one, and has been one of the few which has shown continued growth during the post-2009 recession. Over 72.9 million homes in the US own a pet, and families are willing to spend in order to keep their fluffy loved ones safe, happy, and healthy. If you want to know what owners will buy for their pets- see what they’ll buy for the rest of their family.