• For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
  • New Suppliers
Facebook Twitter Instagram
Wednesday, February 8
  • Subscribe
  • Submit Content
  • About Us
    • Contact Us
  • Advertise
    • Display Advertising
    • Email Marketing Campaigns
    • Newsletter Advertising
    • Sponsored Content
    • Lead Generation Services
  • Top Product Sources
Facebook Twitter Instagram
WholesaleCentral.com Blog
  • For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
  • New Suppliers
WholesaleCentral.com Blog
Home»For Buyers»Retail News»Millennials’ “Fur-Baby” Craze is Helping the Pet Product Industry
Retail News

Millennials’ “Fur-Baby” Craze is Helping the Pet Product Industry

Krystina MorganBy Krystina MorganJune 7, 20183 Mins Read
Facebook Twitter Email
Share
Facebook Twitter Email

puppy dog eyesMillennials are opting for pets, not parenthood, and it’s causing a huge increase in sales for pet product retailers. According to a RetailWire article, on average, dog owners spend $1,285 a year and cat owners spend $915 on their furry friends. These “fur-babies” are treated like actual children, and who can blame them? Pets of all different kinds are known to boost the happiness of their owners, so spoiling them in return is a no-brainer for many people.

RetailTouchPoints reports that e-retailer Zulily found that millennial pet owners view their pets more like their children than previous generations, and 92% of them purchase gifts such as toys, clothing, and treats for their pets. This pet love is resulting in a growth of overall sales of pet products, up almost 5% from last year. Online sales were the foremost growth channel, so for all you independent pet shop owners out there, this might be your sign telling you to put your products up online.pablo222

One of the entertaining theories for the “fur-baby” movement is that millennials seem to have very different values than other generations, particularly concerning pet ownership, according to the Institute for Family Studies. There are many different studies trying to explain this phenomenon, saying that millennials are either smart or crazy for choosing pets over babies. But the fact is they are helping the economy either way, and if having pets makes them happy, then let them be happy and buy more products.

pablo223Max Goldberg, President of Max Goldberg & Associates, commented on the “fur-babies” issue saying, “This makes sense. Millennials flock to urban areas that have sky-high rents and real estate prices. They are delaying starting families. So they lavish attention on a more affordable option – pets. Retailers would be wise to cater to this high-margin category.”

Pet boutiques are popping up in every neighborhood and spending on pet Halloween costumes hit a new record last year, according to RetailWire. Not to mention the addition of pet monthly subscription boxes, which consists of a monthly-curated box for consumers’ pets with different toys, treats, and clothing to spoil their “fur-baby.” There’s no doubt that the number of pets has grown in the United States alone, so now is the time to take heed of this new furry trend and start selling some pet products, if you already don’t, or rethinking the way you sell your pet products by creating something like a monthly subscription box to keep up with the latest trends and enticing new customers.

 

millennials pet supplies
Share. Facebook Twitter Email
Previous ArticleGlobalShop Celebrates Success At 2018 Show
Next Article Does Amazon Have the Solution for Retail’s Return Problem?

Related Posts

Overstock Liquidations

January 25, 2023

5 Essential Tax Season Preparation Tips

January 24, 2023

Top 10 Closeout & Liquidation Suppliers

January 20, 2023
Sign Up for Buyer Updates
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Latest Posts

Overstock Liquidations

January 25, 2023

5 Essential Tax Season Preparation Tips

January 24, 2023

Top 10 Closeout & Liquidation Suppliers

January 20, 2023

Technology to Prepare Your Store for the Future

January 19, 2023

Best Video Marketing Tips for Retailers

January 19, 2023

Winning With General Merchandise

January 18, 2023
how-to
Product News

Overstock Liquidations

January 25, 20236 Mins Read

Overstock inventory refers to the excess goods or merchandise that a retailer has on hand…

Retail News

5 Essential Tax Season Preparation Tips

January 24, 202310 Mins Read

Are you ready for tax season? April 18 is approaching quickly, and many day-to-day decisions…

Wholesale 101 for Buyers

How to Create a Google Business Profile

January 18, 20236 Mins Read

Looking for new ways to get your brand noticed? Creating a Google Business Profile can…

Retail News

Using Color Theory in Window Displays to Increase Foot Traffic

December 1, 20224 Mins Read

by Melissa Stivale While we do not often stop to think about how much color…

  • About Us
  • Subscribe
  • Contact Us
  • Advertise
  • Find Wholesale Sources
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Follow Us:

Copyright © 2023. Sumner Communications, Inc..

Type above and press Enter to search. Press Esc to cancel.