Abstract
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 Simmons Market Research Bureau data
and myriad other 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.
Report Methodology
The information contained in this report was obtained from both primary and
secondary research. Primary research entailed attendance at the 2007 Global
Pet Expo and Petfood Forum trade events; interviews with pet product
marketers, service providers and expert members of the trade; and an on-site
examination of retail venues. Our analysis of consumer trends and demographics
primarily derives from exclusive customized cross-tabulations of consumer data
collected by Simmons Market Research Bureau in its Fall 2006 full-year adult
consumer survey, which is based on 24,467 respondents age 18 or over. Data on
new product introductions are provided by Datamonitor' s Productscan Online
service and Packaged Facts. Secondary research includes extensive Internet
canvassing; research- and data-gathering from relevant consumer business and
trade publications including PET AGE, Pet Product News International, Pet
Business and Petfood Industry; the American Pet Products Manufacturers
Association (APPMA) 2007-2008 National Pet Owners Survey; and other pet market
reports by Packaged Facts, which has been tracking pet-related markets for
over 25 years.
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:
- Marketing Managers identify market opportunities and develop targeted
promotion plans.
- Research and development professionals stay on top of competitor
initiatives and explore demand for on-the-go products.
- Advertising agencies to develop messages and images that compel consumers
to purchase on-the-go products.
- Business development executives understand the dynamics of the market and
identify possible partnerships.
- Information and research center librarians provide market researchers,
brand and product managers and other colleagues with the vital information
they need to do their jobs more effectively.
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