Analyst Insight by Gina Westbrook - Director of Strategy Briefings
Pet owners are increasingly treating their cats, dogs and even small mammals like members of their family. The opportunity to commercialise this trend into a vast range of goods and services – from dog beer to cat counselling, from pet weddings to “social petworking” – is staggering for the company that can position itself to gain credibility among this growing demographic. Our new Strategy Briefing looks at the impact on pet care markets worldwide. There are three main types of pet owner who are keen to spend heavily on their pets; they have different, albeit overlapping, priorities and interests.
1. The mainstream humanising pet owner
This group likes brands that feel safe and reliable, that they believe to be credible and that they trust with their pet’s welfare. In many cases, especially at the higher spending end of this group, this can mean a focus on small businesses with an ethical business practice, and a distrust of large corporations.
For services, local businesses with a good track record may be preferred over a more clinical, large-scale contenders, while products, especially food, with a cottage industry feel tend to perform well.