Considering buying a Christmas stocking for your cat/dog? No need to question your sanity, you are far from alone.
The overwhelming majority of pet owners say they treat their dogs and cats like family. Pet owners are projected to spend more than $5.5 billion on pet related gifts this holiday season, which is close to 10 percent of the total amount consumers are projected to spend on their pets.
To gain further insight into such an astounding consumer trend, qSample conducted a survey among more than 350 participants from qSample’s own Pet Owner Panel.
According to the results, 38 percent of respondents plan to spend $21-$50 on their pet this holiday. Nearly 20 percent plan on spending more than $51 on their companion’s gift.
Retailers have certainly taken notice of the increase in spending. With each passing year, owners can choose from more and more pet products and gifts. New trends, highlighted by the American Pet Product Association, include new offerings from retailers that have been focused on human products. Companies like Ralph Lauren (now selling dog sweaters), Omaha Steaks (new steak pet treats), and Paul Mitchell (new pet hygiene products).
The majority of respondents, 37 percent planned to purchase toys and 22 percent will buy a toy that distributes food or treats. When purchasing food or treats, 37 percent say that the number one factor in their purchasing decision is whether their pet likes the product or not, 28 percent look for organic, all-natural or grain-free options, 13 percent look at brand name as their key determinant and 12 percent consider pricing first.
Most of the survey’s respondents, 49 percent, planned to purchase these gifts at a physical pet specialty store. 19 percent plan to purchase online and 11 percent will purchase from auction sites, veterinary clinics, pet shelters/rescue groups or another venue.