How to leverage millennial pet love
Millennials are pet-obsessed, and retailers have an opportunity to leverage that love into big sales.
According to new research from Zulily, millennial pet parents are more passionate than ever about their pets and are redefining what it means to be a pet owner. Not only do millennial pet owners see their pets as extensions of themselves, but they care for them as members of their family, showering them with gifts and often finding it hard to be apart for even short periods of time.
Key findings of Zulily’s "The Millennialization of the Pet Industry – Retail’s Opportunity to Reach the Pet-Obsessed Report" include:
- Treats for Pets Year-Round: 92 percent of millennial pet owners purchase gifts for their pets, such as toys, clothing and treats, with more than half (51%) purchasing a gift for their pet at least once a month. On average, millennials who buy their pets gifts on a monthly basis do so four times a month.
- Pet Owner Pride on the Rise: 82 percent of millennial pet owners have purchased dog- or cat-themed merchandise to advertise their proud pet parenthood.
- Turning to the Internet: 77 percent of millennial pet owners prefer to buy certain items online rather than a brick and mortar retailer. Brick and mortar offers little incentive, as nearly 2 in 3 (63%) millennial pet owners believe they know more about cats and/or dogs than pet store employees do.
- Pets Take Priorities Over Pay: Millennial pet owners are so attached to their pets that 71 percent would take a pay cut if it meant they could bring their pet(s) to work every day, with 1 in 5 (21%) opting to take a pay cut of 20 percent or more.
To review the comprehensive report findings, download the full report here.
The Zulily pet survey was conducted by Wakefield Research among 500 nationally representative U.S. millennial pet owners, from Jan. 22-35.