First some general statistics…
- According to the American Pet Products Association (APPA), pet-related expenditures are projected to be $62.75 billion in 2016, growing by $2 billion over 2015.
- Over 65% of US households own a pet, equating to nearly 80 million homes (2015-16 APPA National Pet Owners Survey) with 54.4% of households owning a dog.
Next, the trends to support future growth…
Pet Business, the Pet Industry’s primary trade publication, discusses two key trends to support the ongoing growth of the industry in 2016 and beyond.
- The pet industry’s growth can be attributed to the massive Baby Boom generation. Pet spending reaches its peak at ages 55-64 in this consumer group as they focus on their “pet children” – meaning that Boomers can be expected to drive pet product sales for the next decade.
- Research continues to show that pet ownership is actually good for us. (click here for a study by the Human Animal Bond Research Initiative Foundation). More and more dollars are being allocated to this kind of research and organizations like the HABRI are helping the medical profession and insurance industry understand the positive role pets play in improving human health.
That being said, within the overall industry, there are a number of segments requiring promotional products as either a marketing/branding tool or retail product. Dog bowls, leashes, pet carriers and other pet accessories are perfect for groomer boutiques, big box retailers, pet shops and more. Groomers, vets, doggy daycare/hotels, breeders and other service providers want you to keep them in mind and give away leashes, tags, bandanas and other smaller items.
Beyond promotions targeting pet parents, these entities also all use their own full compliment of office supplies, employee recognition programs, sales tools and other items. So there is a huge opportunity in this growing category dedicated to the care and feeding of fur babies and other beloved creatures.
Log in to BICGraphic.com for a number of presentations full of proven promotions for a variety of vertical/niche markets, such as the Pet Industry.
~Margit Fawbush
