What Do Young Pet Owners Want?
Millennials and gen Z-ers (18- to 39-year olds) have become a force in the pet care market. In fact, according to a new Packaged Facts report, consumers in this age group make up 41 percent of all adult pet owners.
The report (Gen Z and Millennials as Pet Market Consumers: Dogs, Cats, Other Pets) reveals what makes these generations stand out as owners. It also details opportunities for retailers to better target and capture sales from young pet parents.
“These younger generations of pet market consumers are critical to the bottom line of pet product and service marketers because the vanguard of the boomer generation is reaching the age when pet ownership declines sharply,” said David Sprinkle, research director for Packaged Facts. “Moreover, Boomers will be succeeded by members of Gen X, who spend heavily on pet products and services but are a relatively small population cohort.”
One of the most defining characteristics of these two generations as pet owners is their relationship with their animals. Packaged Facts found that eight in 10 gen Z and millennial owners consider their pets to be family.
Another key finding in the report for retailers is young people’s willingness to make spur-of-the-moment purchases. According to the survey data, three in four owners in this age group agree with the statement: “Every once in a while, I like to ‘splurge’ on an item for my pets.”
Since young people have such a strong bond with their pets, they are deeply aware and concerned about their animals’ health. Pet owners between the ages of 25 and 39 are even willing to spend more on food if it’s better for their pet, according to Packaged Facts’ data.