Pet Product Buyers Study
To conduct a demographic and psychographic study of consumers who purchase pet portraits in the US along with their brand affinities. If information about the above is not available, the study can be expanded to people who purchase pet products in the US.
Overview of Pet Ownership in the US
- According to the American Pet Products Association (APPA), almost 70% of all US households own at least one pet. Dogs are the most popular pets, followed by cats.
- According to APPA, 60.2 million US households own dogs while 47.1 million US households own cats.
- According to the website of the American Veterinary Medical Association (AVMA), 38.4% of all US households own dogs, 25.4% own cats, 2.8% own birds, and 0.7% own horses.
- According to Statista, the pet product market in the US has increased over the years. Pet food is the highest selling pet product in the US with total sales of $36.9 billion in 2019. Vet care products is the next-best selling pet product with total sales of $29.3 billion in 2019.
Age Demographics of Pet Product Consumers in the US
- According to the APPA, millennials are the primary pet owning generation in the US with 35% of all pets owned by them. Boomers are the next best generation with 32% of all pets owned by them.
- When it comes to displaying their pet parenting status on social media, older millennials (26-36 years) are more prone to do it (85%) compared to younger millennials (18-25 years) (78%).
- As per the results of a survey by Opportunity Financial, millennials in the age group 18-24 years spend the most on pet products with an average monthly spending of $173.67. The next best spending is by millennials in the age group 25-34 years with an average monthly spending of $141.50.
- The average monthly spending of pet owners on pet products in the other age groups are as follows:
Summary of the Initial Findings
- Even after an extensive search, we could not find any information related to demographic and psychographic data of consumers who purchase pet portraits in the US. A reason for this lack of data is due to the fact that making portraits for pets is a relatively new phenomenon and there has not been any market study or survey surrounding the customers who purchase pet portraits. Hence, we expanded our search to pet product customers.
- However, concerning pet portraits, there is a lot of information available about the top pet portrait companies and pet portrait artists in the US who are very popular with customers.
- In the initial one hour of research, we could only present an overview of pet ownership in the US and age demographics and their monthly spending on pet products. However, there is a lot of information on demographics and psychographics available in the public domain. Demographic data like ownership and spending by type of pet, by gender, by location, by relationship status is available. Also psychographic data like ownership and spending habits, values, attitudes towards the pets, and likes and dislikes regarding pet product shopping is also available.
- Information is also available about the brand affinities (what brands people like to purchase) of pet product consumers, the best selling pet products currently, and the recent trends in the pet product consumption in the US.
Proposed next steps:
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