News Feed Item

Packaged Facts Examines Pet Humanization and the Rise of the Premium Product Shopper

Pet owners display willingness to spend more money on human-quality foods, medications, and other products designed to pamper their four-legged, finned, and feathered companions

ROCKVILLE, Md., Aug. 12, 2014 /PRNewswire/ -- With pet humanization now a multibillion dollar business in America, the push to provide our four-legged companions with human-quality products has given rise to an important type of pet owner: the premium pet product shopper, according to U.S. Pet Market Outlook, 2014-2015, a recent report by market research publisher Packaged Facts.

Packaged Facts Logo

A number of pet product manufacturers and retailers have been crediting the humanization trend with driving their business, and premium pet product shoppers will help drive industry growth as the pet market reaches projected sales of $73 billion by the end of 2014, according to the report, which can be obtain at: http://www.marketresearch.com/redirect.asp?progid=86502&url=http%3A%2F%2Fwww%2Epackagedfacts%2Ecom%2FPet%2DOutlook%2D8136111%2F.

In force for several years now, the humanization trend has multiple facets. Foremost, it's a natural expression of the "pets as family" trend, whereby pet owners treat their pets like children and are highly receptive to products similar to the ones they use for themselves. Not coincidentally, many of the services and products entering the market today are directly reminiscent of human fare, no doubt appealing to the pet owner as much as the pet, comments Packaged Facts research director David Sprinkle. Examples include veterinary procedures like chemotherapy, MRIs, and hip replacements; pet supplements like glucosamine and omega 3s; human-grade pet foods containing superfruits or touted as gluten free; designer pet supplies, including Bottega Veneta pet bowls and Simmons Beautyrest pet beds; and luxury services including boarding options more like hotel rooms.

Years of Packaged Facts Pet Owners Surveys have tracked the emergence of premium pet product shoppers and have confirmed the cohort's behavior patterns.  For example, the February/March 2013 Packaged Facts Pet Owner Survey found that a resounding 70% of pet owners would be willing to spend extra to ensure the wellness of their pet. Other Packaged Facts Pet Owner Surveys suggest that pet owners' desire for premium products influences their channel and brand choices. Likewise, close to one-third of pet product buyers (30%) agree that "I prefer to shop at pet product retailers that offer the best products available, even if they are more expensive."

Perhaps unsurprisingly, premium pet product shopping is most common among higher-income households. U.S. households earning $70K or more account for 54% of the aggregate pet market expenditure, and Packaged Facts believes these consumers to be footing the lion's share of the bill for premium pet products and services. Generally speaking, better-off pet owners are also more likely to have been less affected by economic doldrums and are recovering more quickly. 

For a full look at Packaged Facts' industry-leading catalog of reports on pet products and services reports please visit: http://www.packagedfacts.com/pet-products-services-c124/

About Packaged Facts – Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, consumer packaged goods, and pet products and services.  Packaged Facts also offers a full range of custom research services.

Please visit Packaged Facts on LinkedIn for more insights.  Follow us also on Twitter and Google+.

Sales Contact:
Jeff Miller
[email protected]

Press Contact:                                                    
Daniel Granderson 
[email protected]

Logo - http://photos.prnewswire.com/prnh/20140801/132630


SOURCE Packaged Facts

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Qosmos, the market leader for IP traffic classification and network intelligence technology, has announced that it will launch the Launch L7 Viewer at CloudExpo | @ThingsExpo Silicon Valley, being held November 1 – 3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The L7 Viewer is a traffic analysis tool that provides complete visibility of all network traffic that crosses a virtualized infrastructure, up to Layer 7. It facilitates and accelerates common IT tasks such as VM migra...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
operations aren’t merging to become one discipline. Nor is operations simply going away. Rather, DevOps is leading software development and operations – together with other practices such as security – to collaborate and coexist with less overhead and conflict than in the past. In his session at @DevOpsSummit at 19th Cloud Expo, Gordon Haff, Red Hat Technology Evangelist, will discuss what modern operational practices look like in a world in which applications are more loosely coupled, are deve...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
In his session at 19th Cloud Expo, Nick Son, Vice President of Cyber Risk & Public Sector at Coalfire, will discuss the latest information on the FedRAMP Program. Topics will cover: FedRAMP Readiness Assessment Report (RAR). This new process is designed to streamline and accelerate the FedRAMP process from the traditional timeline by initially focusing on technical capability instead of documentation preparedness. FedRAMP for High-impact level systems. Early in 2016 FedRAMP officially publishe...
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It doe...
Between the mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at @DevOpsSummit at 19th Cloud Expo, Charles Kendrick, CTO at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how business and deve...
In the 21st century, security on the Internet has become one of the most important issues. We hear more and more about cyber-attacks on the websites of large corporations, banks and even small businesses. When online we’re concerned not only for our own safety but also our privacy. We have to know that hackers usually start their preparation by investigating the private information of admins – the habits, interests, visited websites and so on. On the other hand, our own security is in danger bec...
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, will provide economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session will also include a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.