Promotional products for veterinarians should focus more on millennial pet owners in the U.S. particularly those who keep dogs at home.
A survey showed that they spend $1,285 on average per year on their furry companions, or a collective annual spending of $67 billion. Despite an increase in costs, many are still willing to make financial sacrifices just they could take care of their pets.
Veterinarians who want to expand their client base should consider catering to more millennial pet owners, since they are among the most willing to splurge on their pets. From massages to birthday parties, some people are not sparing any expense when it comes to their dogs.
Routine expenses such as veterinary care also form part of their budget. Millennials likely account for the biggest share of expenses in the $17 billion medical care category. In fact, most will spend almost $2,000 on average on a sick pet while one out of 10 will pay up to $10,000.
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The willingness of many American to spend a lot stems from their personal affiliation with pets as an extension of family, instead of simply being an extra household resident. Some would even go as far as calling their dog or cat as their “fur baby.”
It’s not surprising then why many veterinarians and hospitals have sought to offer an extensive line of products and services. Pet owners will likely choose a pet care provider who has most, if not all, of their pet maintenance needs from food and medicine to miscellaneous items such as chew toys.
There’s no doubt that millennials have become the single largest source of spending for pets, partly because they make up most of the working class in the U.S. Veterinarians and pet clinics should take advantage of this by knowing how to stay relevant among their clients.