IGC Benchmark Report
How Petco, Purina, and Chewy Leverage Pet Influencers To Reach Millennial Pet Owners
How Petco, Purina, and Chewy Leverage Pet Influencers To Reach Millennial Pet OwnersMillennials make up the largest segment of pet owners. According to Mintel, 75 percent of Americans in their 30s have dogs, while 51 percent have cats, compared to 50 percent of the overall population with dogs, and 35 percent with cats.
All of this has big implications for the $26 billion U.S. pet food industry, which is expected to reach above $30 billion in 2020. Despite having lower disposable incomes than older generations, millennials are more likely to purchase high-end pet food. This trend appears to be an extension of the ways in which they’re becoming more health-conscious when choosing their own food. In order to meet this demand, pet food companies have tapped into the better-for-you claims trend with label attributes like ‘raw food,’ ‘dairy/grain free,’ and ‘vegan.’