A common theme from millennials is they are choosing to have pets over having children.
According to Pet Business, millennials make up $67 billion dollars of annual pet industry sales. It is clear that dog owners, especially millennials, are treating their pets like children, and giving them the best care possible.
Consider these figures:
1. Millennials will spend on average $2,000 on medical bills and care for their pet, annually
2. One in ten millennials are willing to spend up to $10,000 at the vet for their fur-kid
3. As a whole, Americans spent $17 billion a year on health care for their pets in 2017, according to the Wall Street Journal.
How To Target The Millennial Market
Because millennials are willing and most are able to spend a lot of money on luxury items for their pets, your business needs to be poised to capture those dollars.
If your brand wants to reach this market it will want to speak to them via their pets. When you show them that you love their pets (and that your brand supports pet-related causes) you will build greater brand loyalty.
Millennials are willing to spend significant amounts on their pets’ happiness and well-being.
Part of their pet's happiness is because those pet parents are willing to spoil their pets with accessories and gifts. If your brand has pet merch available for sale or for giveaways, your millennial customer will snap them up, give them to their fur-kid, be more loyal to you, and as a bonus -- the pet is now a walking billboard for your brand.
Brands today need to hit its target customer where they are and target whom they love -- their dogs.
A key technique to increase brand awareness and loyalty is by offering branded pet merch. Investing in branded pet merch opens the door to your millennial audience and could grow your business.