Celebration & Gifting Within the Pet Market
With over 12 million dogs in the UK owners are spending more on their pets than ever before. It was recorded that 10 billion pounds had been spent on UK dogs alone in 2021, this is creates an exciting opportunity for retailers to diversify and capitalize on this growing category. Two in five (40%) of young pet care buyers admitted that they would spend just as much money on their pet at special times of the year as they would on a friend. Mintel retail analyst Chana Baram said pets are increasingly being viewed as family members: “Pet owners are willing to offer animals their own products and unique items, which often carry a higher price tag and help to drive category growth.