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.
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?