Compared to Gen X and baby boomers, younger pet owners worry more that they may need to spend less on pet food and treats in 2022 or change to a less expensive brand. In a November 2021 survey by the American Pet Products Association, distinct generational differences arose related to economic issues.
The percentage of millennials and Gen Z concerned how finances will affect their pet expenditures rose in 2021.” – Tim Wall
Source: Petfood Industry, February 1, 2022. Link.
INSIGHTS: Adopting a retention and prevention approach with younger pet owners could slow this trend. Pet insurance, telehealth visits and preventative bundles are opportunities to support pet owners with routine communication and outreach.
An ounce of prevention is worth a pound of cure.” – Benjamin Franklin