Americans are Spending More Than Ever on Pet Care
(and we know how to reach them)
This National Pet Day let’s paws for a meowment to reflect on the pet industry. Not just because we’re pet people (and have our own website barkthru.com dedicated solely to our love of pets), but because the pet industry now totals $104 billion annually. And 27% of owners say they spend more on their pets than they do themselves each year.
This includes pet products and pet care (pet food, grooming, boarding, training, sitting, veterinary services, boarding, and daycare).
The latest US Census tells us:
- 40.5% of revenue in the pet industry is food and treats alone
- The average pet-owning household spends $1,120 per year on their pets
- 2-in-3 American households include at least one pet
Pet owners have buying power. Pet ownership rates increase with household income. Close to 60 percent of households with incomes of more than $80,000 a year have pets, compared with 36 percent of households with incomes less than $20,000.
If you’re in a pet products or services business, you already know that pet industry sales increase at a healthy 11.6% every year.
Growth in the pet healthcare industry outpaces that of human healthcare. But owners of pets are very diverse. It’s more than dog people versus cat people. As business owners and marketers in the pet industry, we must consider pet type, breed, age of pet, nutrition, health, grooming, and the number of pets in the home. That’s just a start.
As the category grows, so do the products and services marketed. For example, pet fencing (invisible/underground or traditional), pet photography (that holiday card includes the whole family, including the fur babies!), dog walkers, and of course, pet accessories (that winter sweater for Fido). Depending on who’s buying, and for which pet, marketers need to focus on a targeted approach.
The digital media pros at Brkthru are experts at hyper-targeting subgroups like those in the pet industry for our pet brand and ad agency partners. Because we know one size does not fit all.
Paid social media advertising is just one powerful tactic to reach pet owners, as more than 65 percent of pet owners post about their pets. More than half admit their pets get more social media attention than they do themselves. One in four pet owners have created a social media account for their furry friends (source: Mars Petcare US).
Video is also crucial in driving awareness of pet branded products and can be complemented by display and SEM for a strong media mix that drives site and in-store visits.
If you want to learn more about our successful approach in the pet industry, reach out. And hop on over to our website www.barkthru.com to see cuddly profiles of our teams’ pets.