Pets have become increasingly important to their owners. Today, almost 70% of American households own a pet, with dogs being the most popular pet, according to the American Pet Products Association. In fact, in the US, there are now more pet-owning households then there are those with children, some 84.6 million strong as compared with 52.8 million with kids.
Pets are now treated as a family member. It is no surprise that luxury customers have been looking for the same high-end products and services that they themselves use. They are willing to splurge on luxuries like beds, toys, clothing, travel accessories, gifts and grooming services, along with the necessities including collars, leashes, bowls, medicine and veterinary services.
Millennials are the largest group of pet owners in developed countries. But its not just millennial’s numbers and future spending power that will give a boost to the pet industry, it is their overwhelming passion for their pets.
As the audience for dog apparel has expanded, so has the range of offerings from manufacturers. Today, pet parents can find everything from graphic t-shirts to Halloween costumes made for four-legged models of all sizes. Similar to kidswear trends, brands are making many of their designs available in capsule collections for pets, so that the pets and owners can both be dressed equally elegantly.
This report looks at the latest developments in the niche market of pet fashion, and how the luxury market has opened up to this new booming segment.
- Luxury Fashion for Pets
- Animal and Pet Inspired Collections
- Celebrity Pets
- Pets of Celebrities
- Pet-Friendly Luxury Hotels
- Key Takeaways