9 Must-See Charts!

Issue #55

April 9th, 2024

Quick Hits:

🤖 AI-powered facial recognition vending machine for dogs just debuted in Finland

💩 Pet poo is the biggest pet peeve for peeps

 🔐 Oh no, I’m in air jail

🐍 We love a great headline

In the recent Global Pet Expo APPA shared these charts about the pet market. These are critical insights for any business owner who is intent on capturing a certain consumer base.

So let’s jump right in:

1. This one surprised us a bit. Both Gen Z & Millennials are increasingly getting more of their information from their veterinarians. While they may be losing faith in the (human) medical establishment, media, and other “official sources” vets seem to be gaining credibility. Some companies have recognized this and are pursuing

2. No surprise here - TikTok is 👑! The younger they are the more of their info comes via TikTok. The older they are the more they rely on Facebook (Meta) and Google to find out about new products for their pets.

3. Again, no surprise here. Gen Z prefers online shopping vs Boomers who prefer the good old-fashioned brick-and-mortar.

4. While online shopping continues to grow overall, in-store brick-and-mortar purchases still stand as the number one way overall consumers are purchasing pet products (maybe because it’s a nice outing for Scout?).

5. Subscriptions are for the young. If your company relies on recurring revenue via subscriptions, you want to aim for Gen Z. The least likely to have subscriptions are boomers.

6. Covid accelerated the subscription trend, but pet owners seem to have stuck with it overall across all age groups.

7. Boomers still seem to be purchasing the highest number of pet products consistently. Gen Z, however, is creeping up there as their purchases increase - most probably due to conversions coming from digital content/placement on TikTok, etc.

8. Pet ownership did see its peak in 2020, and has since stabilized, but the overall number is still higher than it was a decade ago.

9. About a third of pets are owned by Millenials making them the biggest segment of pet owners. Gen Z is currently the smallest segment of pet owners but the fastest-growing one.

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A quick breakdown of some of the charts above:

• The pet industry has shown consistent strength over time.

• In 2023, the pet industry contributed $303 billion to the economy, marking a 16% increase from $260 billion in 2022.

• Pet care ranks highest among fast-moving consumer goods (FMCG), even surpassing grocery and dairy categories, both before and during the COVID-19 pandemic.

• The percentage of households owning pets has returned to pre-pandemic levels, despite an overall increase in pet-owning households over time.

• Post-COVID, consumer purchasing habits have shifted towards an omnichannel approach, balancing between brick-and-mortar and online platforms.

• While Millennials continue to represent the largest pet-owning demographic, Gen Z is influencing changes in how pet products are researched and purchased.

• Younger generations exhibit a preference for visual media when learning about products, highlighting the importance for brands to integrate visual content into their marketing strategies.

(Source: APPA)

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To make a de-paws-it.

See you Thursday!