In our industry that has misgivings about charging for elements of pet health care, Valentine’s Day spending may give animal health pros a different perspective. A record 27 percent of people will buy Valentine’s gifts for their pets, the highest figure in the history of the National Retail Federation survey. Each pet gift buyer will spend $12.21 on pets shares Kimberly Amadeo. The total 2020 Valentine’s Day economy is projected to be $27.4 billion of which $1.7 billion will be for pets.
. . . gift giving is not limited to one’s significant other. It includes family members, friends, co-workers and classmates, and even pets.
A nearly $2 billion dollar valentine pet economy coupled with a growing pet treat market (~$7 billion excluding dental/health care treats <link>) is a signal for animal health pros. It appears pleasure spending trends now impact pet decisions or maybe it always been this way <link-1> <link-2>.
The valentine and treat markets are likely extensions of our desire for pleasurable experiences. Pay attention to your social media feeds over the next few weeks. See how many pictures of pets show up with Valentines versus pets at a wellness visit.
Source: The Balance, February 7, 2020. Link.
Also see: bizwomen, February 7, 2020. Link.
Also see: Valentine’s Day pet do’s and don’ts, Pet Poison Helpline. Link. Be careful to keep Valentine’s gifts, foods, flowers, and drinks away from your pet’s reach!
INSIGHTS: You have today to still send a friendly greeting to clients. For veterinary teams and retailers, something as simple as “Thank you for your business!” with a Valentine image is appropriate. Maybe since it is pet dental month, a message refreshing fresh breath and gingivitis is appropriate as well. 😉
For those wanting more history of this holiday the History of Valentine’s Day video is informative. <link>