Acosta Group's latest study reveals that nearly 90% of pet parents are willing to adjust their budgets to afford their pets' expenses, highlighting the significance of the pet industry. With two in three U.S. households owning pets, brands and retailers have a valuable opportunity to cater to this market. The study shows that pet parents prioritize health benefits when choosing food for their pets, mirroring their own dietary preferences.
Online research is the primary source of information for most pet owners, although vets remain the most trusted source for diet and health advice. Brand loyalty is crucial in purchasing decisions, with many pet owners influenced by in-store promotions. Despite rising costs in veterinarian care and pet supplies, pet parents remain committed to their pets' well-being, willing to invest between $2,000 and $3,000 in unexpected medical expenses.
Brands and retailers can capitalize on this trend by emphasizing on-trend packaging, creating seamless in-store and online experiences, and providing trusted and educated resources for pet parents. Acosta Group's study, conducted with 1,137 primary household shoppers who own dogs and cats, offers valuable insights for businesses looking to engage with pet owners effectively. For more information, visit www.acosta.group.
