Statistics indicates that global spending on caring for pets continues to increase year on year. Figures in 2014 were $98.3 billion, and that figure is expected to rise to $103.8 billion by the end of 2015. While billions are spent on pet food, there has also been a large increase on non-edible spends such as grooming treatments, holidays, day care, clothes, and toys. It is clear that more and more people are treating their pets as family members, and companies are noticing an opportunity to cash in on this.
Euromonitor has identified three different types of the pet owner. Mainstream humanisers who predominantly buy premium brands. These makeup two-thirds of owners. Anti-humanisers makeup over 20% of owners and buy smaller brands. The final group identified are known as extreme humanisers and makeup over 5% of owners. This group tends to treat their pets as personal accessories and favour exclusivity and designer outfits for their pets.
A particular area that has adapted to the growth in pet spending has been the technological sector. There has been a sharp increase in the amount of apps and wearables that target pet owners. Owners can now monitor the fitness of their loved ones, as well as having confidence in the whereabouts of their pets through tracking devices. Feeding and training and has even been made easier for the owner, thanks to technological advancements, while there is also an extensive array of play apps available to ensure that your pet is never bored.
At Greyhounds As Pets, we deal with hundreds of pet owners on a daily basis. Speaking with owners, we understand the important role that their pets have within the family. Many believe that technology has given them a better understanding of their pet’s needs, while others praise the flexibility and convenience that apps and technology offer them. For example, you can now manage your pet’s meals through your smartphone or tablet, controlling when, how much and how often they eat. We created this infographic to inform and educate pet owners on the excellent selection of apps and wearables now available for pets.