APPA: Americans Would Spend More on Their Pets in 2018

Veterinarian checking the dog

Veterinary mailing labels and other promotional products would be more relevant in 2018, as the American Pet Products Association (APPA) expects spending on pets to increase by 3.7%.

The increase would take place following a growing trend of more pet owners in the country. Veterinarians need to focus more on Gen Z and Millennials, as ownership among them has risen in the last decade.

Veterinary Care

Marketing initiatives would be more important this year after pet owners spent a considerable amount on veterinary care in 2017. Expenses rose by more than $17 billion from the almost $16 billion in 2016. APPA expects spending to increase again by almost 7% for this year.

Aside from professional care, owners also spent more than $29 billion on pet food and over $15 billion on supplies and medicine during the previous year. Overall, Americans splurged nearly $70 billion for their pets in the same period, which is up by 4.1% year over year.

Generation of Owners

The reason veterinarians should focus more on Gen Z and Millennial pet owners is because of their dependence on pet doctors for advice, whether it’s related to pet food or medicine. For instance, a report showed that Americans between 18 and 39 years old are more likely to ask for advice about different pet products from a veterinarian, unlike pet owners between 55 and 74 years old.

The younger age group is also more willing to accept routine visits at home from a veterinarian, which means a higher chance of retaining clients. Gen Z and Millennial pet owners are also known to have a diverse taste in the kind of pets apart from cats and dogs. Many of them keep birds, fish, reptiles, or rabbits.

The expected increase in spending on pets should be a good enough reason for veterinarians to rethink their marketing initiatives. How do you plan to attract new customers this year?