Packaged Facts released a new report.
ROCKVILLE, MD — A new report from market research firm Packaged Facts reveals a few things that pet pros should know about Gen Z and millennial consumers.
“Adult pet owners under age 40 are as much the present as they are the future of the industry,” David Sprinkle, research director for Packaged Facts, said in a press release. “These younger generations of pet market consumers are critical to the bottom line of pet product and service marketers because the vanguard of the Baby Boomer generation is reaching the age when pet ownership declines sharply. 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.”
Gen Z consists of 18-to 24-year-olds and the millennial generation consists of 25-to-39-year-olds. In all, the 57 million pet owners under age 40 account for 41 percent of all pet owning adults in the U.S.
In the report, called "Gen Z and Millennials as Pet Market Consumers: Dogs, Cats, Other Pets," Packaged Facts found that pet owners in these age brackets:
- Trust in brand integrity and smaller pet product companies. Compared to Gen X and Boomer pet owners, Gen Z and millennial pet owners are more likely to trust products offered by smaller companies such as regional or family-owned companies or smaller natural/organic product companies. However, smaller marketers need to be prepared with something more compelling than a run-of-the mill message if they are to reach out successfully to these young pet parents.
- Rely heavily on vet guidance for pet product purchases. Pet owners in the 18-to-39-year-old age group are far more likely than their older counterparts to depend on their veterinarian for advice about a wide range of pet products. For example, compared to 55-to-74-year-old dog owners, dog owners in the 18-to-39-year-old age group are more likely to seek out the opinion of their veterinarians regarding dog foods and dog treats. They are more than three times as likely to have purchased dog foods from a veterinarian in the past three months.
- Show interest in veterinary services in non-traditional venues. Veterinary service providers will find growth opportunities among Gen Z and millennial dog owners by expanding veterinarian services in non-traditional settings. Dog owners in the 18-to-39-year-old age group express greater interest than their older counterparts in having a vet visit their home to provide routine dog health services or having a veterinarian visit their work place to provide routine dog health services. A similar pattern holds for Gen Z and millennial cat owners.
- Have a variety of pet types. Gen Z and millennial pet owners make up a disproportionate share of owners of birds, fish, reptiles, rabbits and hamsters. As a result, Gen Z and millennial pet owners are prime targets for marketers of items such as reptile habitats, bird cages and stands and aquariums.
The full report is available for purchase here.