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Market Trends In Premium Pet Demographics And Product Purchasing Preferences

15 years ago

5th September, 2007 00h00 announces that a new market research report related to the American pet industry is now available to its catalogue. Market Trends: Premium Pet Demographics and Product Purchasing Preferences Over 17 million U.S. households qualify as premium pet product demographics, accounting for approximately one-third of all pet-owning households and 16% of U.S. households overall. This all-new report profiles key consumer demographics driving the upper end of the pet market across five distinct cohorts: Affluents (household income of $150K or more), Specialty Shoppers (those purchasing pet supplies through pet stores or Internet only), Married with Children (household income of $100K or more), Empty Nesters (household income of $75K or more), Dual-Income/No-Kids (DINKs—household income of $75K or more), and Singles (household income of $50K or more). Level of dog and cat ownership, product and brand purchasing preferences, and favored purchasing venues are just a few of the ways in which many resources are custom-tailored to develop a better understanding of today’s premium pet product consumer. Also underscoring and helping to steer the premium direction the market is taking is the surge in new pet products specifically designated as “upscale.” As of 2006, over half of all new pet food products were tagged “upscale” and almost one-third of non-food supplies were so designated, making it clear that pet product developers and marketers on both sides of the aisle are fully behind the market’s premium shift. So, too, are retailers, especially in the pet specialty channel, where 94% of retailers indicate that they are planning to add or increase their selection of pet health and pampering products in the coming year. How You Will Benefit from this Report For companies participating in the U.S. market for pet products and services, the premium writing is on the wall as several interrelated trends continue to drive more of this $47 billion market into the hands and the pocketbooks of premium pet demographics. These trends include heavy marketing encouraging pet “humanization,” product upscaling, the entry into the market of entrepreneurs with new brands and innovative products, the growth of pet boutiques and upscale specialty shops, and strong interest in pet products among non-traditional retailers. Trumpeting the premium demographic shift, households earning $70K or more annually increased their share of the aggregate pet market expenditure from 28% in 1995 to 49% in 2005, representing more than a tripling in $70K+ household expenditures from $5.2 billion to $18.6 billion. This report will help:Table of content Chapter 1: IntroductionChapter 2: Premium Pet DemographicsAppendix: Examples of Advertising

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