Retailers target millennial pet owners

If you love your pets dearly, count them as family members, and you’re between 18 and 33, there’s something you deserve to know — you’re being targeted.

As the leading cash cow consumer group, millennials — people born between the early 1980s and early 2000s respectively — are expected to almost single-handedly fund the pet industry in coming years.

It turns out millennials drop more cash and are more likely to take their pets into consideration when it comes spending choices and major decisions — like jobs and home purchases — than any generation before, a fact that has retailers dabbing drool from the corners of their mouths.

To that end, retailers are actively studying their habits, psychology and preferences because they want some of the action.

Defining the market as a “financial power shift” millennials are projected to earn $3.39 trillion in 2018. Calling for a “Millennialization of the Pet Industry”, reaching the pet obsessed generation is an opportunity too good to pass up, according to a report released last week by the Seattle based retail company Zulily.

Zulily has commissioned research in recent years to better understand the millennial mind when it comes to pets, and what they have discovered is reflected in their marking approach, such as calling pets “fur babies” and their owners “pet parents”.

The research firm Wakefield, on behalf of Zulily, queried 500 millennial pet owners across the US between January 22-25.

Noting that of 84.6 million pets in the US, 35 percent are owned by millennials, the survey revealed:

• 92 percent buy their pets gifts of toys, clothing and treats, and more than half buy them gifts at least once a month.

• Millennials are twice as likely as baby boomers to buy clothing for their pets. In the past year, Zulily has seen a 200 percent growth in the sale of T-shirts, sweaters and dresses for pets and a 622 percent growth in pet hoodie sales.

• 84 percent have separation anxiety and worry about their pets when away from them for short stints.

• 82 percent feel a pet is not a pet, but a “starter child” and part of preparing to have a family.

• 65 percent would be more stressed to be apart from their pet for a week than their cell phone.

• 71 percent would take a pay cut if they could bring their pet to work.

• 77 percent prefer shopping for pet products online and do not believe shopping in a store provides enough education.

• 63 percent believe they are more knowledgeable about pets than pet store employees.

A 2017 presentation by Wakefield advises that millennials are conscientious, but are also “exhibitionists” and “irrational” and will buy discretionary items under the “guise that they are non-discretionary” because they “think differently about what is essential” — great news for retailers, but not exactly flattering to millennials.

Such perspectives mean pet owners can expect to be bombarded with pet clothing, casual carriers, devices to connect with pets when away, a plethora of “natural” and “organic” products and marketing designed to leverage the millennial’s pet attachment.

Being studied as a target demographic is as old as business itself and does have benefit, because it means attention is given to what the consumer wants and needs, and it also means the world of pet products will be filled with appealing and fun must-have items

But consumers still owe it to themselves and the pets they love to research and make informed decisions as they shop — to spend wisely and be sure products are not just interesting to owners, but in the best interest of pets.

Sharna Johnson is always searching for ponies. Contact her at: [email protected]