1980s Pet Owners versus 2020s Pet Parents
By Kathy Justice
This year, my goal is to have all three of my pets’ teeth cleaned. That’s right. All three. That means three separate bills for anesthesia, cleaning, scaling, and, potentially, teeth removal due to cavities or root decay. It’s a big financial commitment. The weight of it all got me thinking about my childhood pets and how my parents cared for them. And guess what? I can’t recall one single time when my parents had Candy’s (dog), Midnight’s (cat), Hazel’s (dog), or Holly’s (dog) teeth cleaned. Not one time.
This scenario leaves me asking: What has changed in the last 40 years around pet parenting?
Apparently, a LOT.
In the past few decades, we’ve seen a boom in pet ownership. According to Forbes’, ‘Pet Ownership Statistics 2024,’ nearly 66% of U.S. households (86.9 million homes) own a pet. That’s a 56% growth rate from 1988. We also know that…
Millennials make up the largest percentage of pet owners (33%), with Gen-X (25%) and Boomers (24%) following closely behind
Gen Z pet owners are far more likely than any other generation to own a variety of pets
Households with generous, stable incomes ($100K+) are more likely to own a pet
Dogs are the most popular pets (65.1 million households), cats are second (46.5 million households), and freshwater fish come in third (11.1 million households)
With the uptick in pet ownership, pet insurance is on the rise with more than 4.8 million pets insured (circa 2022)
Additionally, how we treat our pets has evolved. Now, slightly more than half of owners (51%) view their pets as much a part of the family as a human family member. So as consumers acquire more pets and become more attached, they are opening their wallets wider than ever to care for their pets’ needs both big and small.
A batch of New York Times articles have recently explored the growing pet market and its implications, including ‘Why You’re Paying Your Veterinarian So Much’ and ‘Are We Loving Our Pets to Death?’
The first examines the rising cost of pet care and how willing we are to ensure our pets stay with us for as long as possible. The second explores how we increasingly treat our pets more like us and, in doing so, may be doing them a disservice.
What’s a marketer to do with this information? W5 notes a growing tension between treating our pets like fellow humans and letting them run wild and free as nature intended or finding a balance somewhere between their ancestors and our companions of today. It will be interesting to watch the market and see how these trends merge or diverge to shape consumers’ pet care philosophies.
For now, here are some of the major 2024 pet care trends on our radar:
Accessible Specialized Care: It wouldn’t be surprising to see more accessible (and fingers crossed, more affordable) veterinary specialist centers treating organ health and cancer
Pet Insurance Options: As vet care costs continue to rise, the boom in pet insurance will follow suit. We anticipate more pet insurance companies and coverage plans to break into the market.
Holistic and Alternative Approaches: Did I tell you my chiropractor offers adjustments for my cats and dogs? In addition to more accessible specialized care, we also anticipate a boom in natural treatments for our beloved companions. Think acupuncture, herbal remedies, massage, and yes, chiropractic care.
Telemedicine for Pets: Getting to a vet appointment can be a struggle for working adults, especially for minor issues. It will become more common to schedule a vet appointment and receive treatment online.
Wearable Technology: Tracking our pets’ activity levels and monitoring their vitals from home will be a breeze with the help of these new pet tech startups.
Innovative Pet Food Formulations: Pet food companies will use advanced technology to ensure Fluffy and Fido are getting the perfect combination of nutrients for their age, breed, health condition, or DNA profile. Serving up clean, well-balanced, and even tailored foods to your doggy continues to trend.
‘Rewilding’ and Enrichment Play: W5 predicts increased attention on methods to help our pets be more like animals and less like humans. Creating enriching environments to explore, providing toys that mimic the natural world, and even simply allowing pets to spend more time in the great outdoors unleashed or unrestricted.
Are you a marketer or company riding the waves of evolving pet trends? Or a Pet Parent with some thoughts to share? We’d love to hear your thoughts in the comments below on where the industry is headed and how it will impact consumers and pets alike.
To learn more about W5 and our work within the pet industry, you can reach out to our 🐾pawsitively🐾 awesome Client Relations Consultant, Emma Eyman (& her WFH sidekick, Casey, seen in the cover photo🐕🦺)!