Pet Ownership Is On The Rise
Pet ownership has been significantly rising in the US over the past decade and this has been part of a broader trend that is happening around the world. Although Millenials make up the largest fraction of pet owners in the US, one emerging age cohort that is driving the increase in pet ownership is Generation Z. Consumers born between the mid-1990s and early 2010s are quickly transitioning into adulthood and this further increases their spending power and influence as they become older and more independent. In this article, we will explore the ways in which Gen Z is shaping the pet retail market through their love for pets, purchasing behaviors, values, and influence in this sector.
The Rise of The Pet Parent
The number of Gen Z pet owners is quickly increasing. In fact, According to Newsweek, many Gen Z-ers in their 20s are choosing to raise pets rather than start families. This might be due to the flexibility, lower risks, and lower costs that are related to pet ownership in the face of an uncertain future. The term “Pet Parent” reflects a cultural paradigm shift in not just family dynamics but also how people perceive and treat their pets. Instead of being seen as animals, they are now seen as essential members of the modern family or even “fur babies” that provide companionship or emotional support and receive extra care in return.
The Humanization of Pets
As pet ownership increases, so does the humanization of pets. According to Forbes Advisor, Gen Z pet owners are far more likely to have a variety of pets. They are most likely to spoil their pets with cakes, presents, clothing, costumes, and specialized pet food. Also, according to The 2020 Big Pet Survey by Segmanta, 80.7% of Gen Z consumers are celebrating their pet(s) birthdays. This generation is highly conscious of their pets’ well-being and is willing to invest in high-quality, nutritious food, supplements, and wellness products. Natural and organic pet foods, CBD treats, and health-monitoring devices are becoming increasingly popular as Gen Z pet owners seek to provide the best care for their furry companions.
Sustainability & Values of Gen-Z
Gen Z consumers are also known for their strong stance on environmental and social issues. According to The 2023 PDI Business of Sustainability Index, 91% of Gen Z consumers want to buy from sustainable companies and 81% are more likely to purchase environmentally friendly products based on climate events in the past 12 months. This data suggests that brands that utilize eco-friendly materials and sustainably sourced products are more likely to appeal to Gen Z consumers.
This generation is more likely to consider sustainability and ethical practices in purchasing decisions, including those related to pet products. One famous example is Greta Thunberg and her strong advocacy for environmental and animal rights which also align with her lifestyle of pet ownership. By taking stronger stances on social issues and offering products that are eco-friendly, organic or sustainably sourced, and demonstrating a more ethical treatment of animals, brands can connect with this emerging demographic.
Final Thoughts
According to research from Pass_by, Gen Z’s engagement with major pet retailers has increased over the past 5 years, while foot traffic from millennials has declined. What we are witnessing is the gradual emergence of Gen Z as the dominant force in the petcare market. Gen-Z is influencing not just purchases, but also the way that pet products are found and marketed online and offline. So by appealing to the unique lifestyles, preferences and behaviors of Gen-Z, retailers can build stronger relationships with this influential consumer group and ensure long term success as the demographics shift.
We hope you found this article informative. Please don’t forget to share. You may also be interested in a previous article on How Sustainability is Shaping The Pet Industry.
At MJE, we have over 30 years of experience in the pet care market and our years of experience gives us a deeper knowledge of consumer behavior and industry trends. We will also be at the upcoming SUPERZOO in Las Vegas from August 14 -16. We hope you can join us to talk about enhancing your retail presence. Feel free to give us a call at (646)216-3378 to talk about your display and packaging needs for your pet products.
SOURCES
Ewen, James. “Navigating the New Pet Economy: Gen Z’s Influence on Pet Retail // Pass_by.” Pass_by, 2 Apr. 2024, passby.com/blog/pet-economy-gen-zs-influence-on-pet-retail/.
“Gen Z-ERS: Pet Ownership Redefined.” Segmanta, 8 Sept. 2020, segmanta.com/blog/gen-z-ers-pet-ownership-redefined/.
Megna, Michelle. “Pet Ownership Statistics 2024.” Forbes 25 Jan. 2024, forbes.com/advisor/pet-insurance/pet-ownership-statistics/
PDI Technologies. 2023, April 26. 2023 PDI Business of Sustainability Index. pditechnologies.com/resources/report/2023-business-sustainability-index/
