Why choose the pet industry
The UK pet industry growing from strength to strength.
According to the latest report from Mintel, just under six in 10 (57%) pet owners bought pet accessories in 2017, with toys (37%) being the number one product purchased.
‘The pet food and pet care industry is growing well, underpinned by stable pet ownership and an increasing desire to treat pets with premium food, products and services as pets become a more integral part of the family. With the rise of services there is an opportunity for both specialist and non-specialist retailers to capitalise on this with in-store services. Looking ahead we can expect to see this trend continue with pet owners wanting more experiences, services and aesthetically pleasing products and food which pet owners believe will make their pet happy.’ (Jacob Holder, Retail Analyst, Mintel)
And more than half (51%) of UK shoppers would rather cut back spending on themselves than on their pet, according to the report.
But it’s Britain’s Millennials (aged 19-38) who are the most prepared to lavish love on their animal friends, with 54% of these pet care buyers saying they’d prefer to cut back spending on themselves.
Mintel research reveals that 30% of Millennial pet care purchasers say they like their pet to keep up with the latest trends (eg clothes, grooming styles), which compares with an average of one in five (19%) buyers. And the research finds two in five (40%) of these pet care buyers would spend just as much money on their pet at special events (such as Christmas or their birthday) as they would on a friend. This compares with an average of 32% of all buyers.
Overall, 59% of British consumers own a pet, with full-time workers the most likely to own one (66%). Proving dogs really are man’s best friend, ownership peaks among men, with 35% of men owning a mutt compared with 31% of women, and younger Millennials aged 19-28 (42%). A third (33%) of Brits own a dog versus three in 10 (29%) who own a cat.
When it comes to pet services, pet health check-ups (17%) and pet grooming (16%) lead the way, with 10% of dog owners having paid for dog walkers, rising to almost one in five (18%) dog owners aged 16-24. Meanwhile, 7% of dog owners have paid for pet sitting.
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