GfK: 10 million US households high-value pet retail targets
Pet Owner Navigator helps maximize value of marketing, store investments, according to company
GfK analysis has identified over 10 million US households that represent the greatest potential value for pet retailers and manufacturers. Using GfK’s Pet Owner Navigator, manufacturers and sellers in the pet retail marketplace can target their most important potential customers more efficiently in specific geographies—through promotion dollars, shelf-stocking decisions, in-store promotions and other marketing efforts, according to the company.
Pet Owner Navigator divides consumers nationwide into six groups based on their pet attitudes, buying habits and location of residence. The highest-value segment, Privileged Pet, represents 9% of US households, is well educated and has a high likelihood of earning more than US$100,000 annually. Members of this group tend to live in urban and inner suburban areas and prefer to purchase petfood at pet specialty stores; they appreciate the expertise of the store owners and are generally not concerned that the prices may be a bit higher, says the report.
Other groups tracked by Pet Owner Navigator are:
- Waffling Woofers (27% of US households) â€“ not loyal to a particular pet channel
- Bargain Buddies (17%) â€“ driven primarily by price concerns when it comes to pet purchases
- Cyber Sidekicks (11%) â€“ would rather shop for pet products online
- Vets R Us (4%) â€“ visit their veterinarians often and strongly prefer to buy their pet supplies there
- Antipetism (32%) â€“ not likely to own a pet or be buying pet products
GfK’s Retail and Technology team developed Pet Owner Navigator by segmenting extensive data on US consumers. Using this analysis, manufacturers or retailers can allocate marketing funds against the right geographies and stores; distributors can support retailers with the right marketing programs; and marketing and sales professionals can distribute marketing dollars more wisely, says GfK.