4 Pet Industry Trends for 2016
The pet services industry has been a growing juggernaut over the past few years with many experts referring to the industry as recession-proof. In a growing industry, it’s important for pet service providers to stay on top of the ever-changing needs of pet owners. Here are four major trends to watch for in 2016:
1. Pet Industry Entrepreneurs
With the immense growth in this industry over the past few years, entrepreneurs have been drawn to the field hoping to capitalize on the influx of capital and the ever-growing demand. Now that 62% of households own pets, the field is ripe for innovation. It’s important for small business owners in the industry to keep an eye on the expanding market of services and products available for all kinds of critters.
2. High-Income Pet Owners
The more discretionary income a household has, the more money that can be spent on pets. High-income pet owners are estimated to make up 60% of all spending in the pets sector. Pet service providers should consider adding services that cater to high-income earners. Adding luxury services or upsell options might be a good bet with these customers.
3. Needs of Aging Pets
Older pets require more care. In January of 2015, 39% of dog owners and 43% of cat owners cared of elderly pets. While these animals might not require as much stimulation as a puppy, they do have their own unique needs. A dog walker who has training in administering medication while a pet owner is at work could be a new need for many pet owners who want to care for their aging furry friends in the best way they can.
4. Pets as Children
Pets are becoming a more integral part of the family than they have ever been. People’s perception of pets have shifted from man’s best friend to man’s surrogate child. Pets are now most popular amongst couples with adult children, unmarried professionals, and childless couples. These groups have resources to spend on their pets and enough time to care for them. Consider this shift in attitudes when communicating with pet owners. Illustrate that you understand your customers and you take the care of their pets as seriously as they do.
The pet industry continues to grow and change at a staggering pace. For small business owners, keeping up with industry news and trends can be overwhelming, especially in a time when technology is dramatically changing the way, consumers connect with services. SinglePlatform is here to help. Check out the ways we are helping businesses like yours stand out everywhere that matters.