Pet parents: A lucrative market

By MCM Editorial Team

May 2, 2024

As National Pet Month unfolds this May, Acosta Group unveils insights from its latest study, shedding light on the shopping behaviors of pet owners.

With two out of three U.S. households owning pets, the demand for pet-related products such as food, treats, and healthcare items has emerged as a significant segment within household budgets. Revealing that pets are considered integral family members by 96% of respondents, and with 86% willing to adjust budgets to cater to their needs, the study underscores a lucrative opportunity for retail marketers to cater to this devoted demographic.

Link to the full release here.