Millennial pet parents have become the biggest generation of pet parents after surpassing boomers. Millennials also have an upward trend in terms of income and spending as compared to baby boomers who are trending downwards in both.
However, it’s not the purchasing power of the millennials that will boost the pet products industry. It is their overwhelming passion for pets that drives them to buy the best products in the market. As a pet store owner, you need to know the behavior of your potential customers so as to approach them effectively. By personalizing your ads to meet the needs of millennial pet parents, you will be able to increase sales while making them satisfied.
Here are 5 things you should know about millennial pet parents as a pet store owner.
They are the biggest pet-owning generation
According to the American Veterinary Medical Association, millennials are now the primary owners of pets in the US and across the major world cities. In the US, they own 35% of pets while boomers own 32%.
Some people say that the rise of millennial pet parents has been due to an increase in their income and spending habits. While this may be true, some people also say that millennials are passionate about pets. As a pet store owner, you can start designing your pet store to meet the needs of millennials because they are bound to be your biggest customers in the future.
They consider pets as family
According to a pet survey conducted by Zulily, millennial pet parents consider their pets like family. Some even say that they would prefer cuddling with their pets rather than their romantic partners when given a chance.
Moreover, 82% of those who participated in the study viewed pet parenting as preparation for having a baby. This generation has delayed child-bearing more than any other generation in the past. Therefore they have more money and time to spend on their lovely pets. Some millennials are willing to have a pay cut to take pets to their workplace. Over 80% of millennials worry about their pets even when separated from them for a short time.
They look for expertise in pet purchases
When it comes to purchasing products for their beautiful pets, millennials prefer pet store owners who understand their needs. According to a study conducted by Wakefield Research, more than 63% of millennials consider big stores as lacking expertise.
Millennials are careful with their money. They would want to know the qualities of a product before buying it. They just want the best products for their pets.
As a pet store owner, to meet the needs of millennial pet parents, you need to stock high-quality products and be able to explain their benefits in detail.
They spend plenty of time online researching the best products
Because millennials live in the information age, they spend do most of their research online before visiting a store or ordering a product from an online shop.
As a pet store owner, you can increase foot traffic to your brick and mortar store by having a website. Since most millennial pet parents are online, you have higher chances of convincing them to visit your store through digital marketing. You can do this through helpful information on your website, social media, and online retail stores.
You can showcase your best products including how they benefit pets on your website. Through dedicated marketing, you will convince your potential clients to spend money on your products.
They dress their pets
Millennials are increasingly buying clothes for their pets according to Wakefield Research. More than 50% of millennials are likely to purchase sweaters, dresses, coats and other clothes for their pets.
Zulily, a pet products e-commerce store, reported a 30% growth in the sale of pet products related to clothes. Pet costumes are also becoming popular with millennial pet parents. They dress their pets as characters in their favorite TV shows like Star Wars.
As a pet store owner, you can focus on pet clothing to meet the needs of millennials. Bringing costumes that match popular TV shows can also be a great idea.
Millennial pet parents are changing the consumer trends of pet owners. They find big box stores as lacking expertise and prefer store owners who can meet their needs. hey are also willing to spend their money on high-quality products because they are passionate about their pets.
Pet store owners should start focusing on the individual needs of this generation of pet parents because they are the majority in the world.