Consumption habits and lifestyles have drastically changed as a result of developing technology, and this can be best observed in the characterisation of each generation. New generations adapt more easily to technologies and, consequently, create new ways of using them.
The importance in classifying the generations is that each generation represents a type of customer. Customers want certain products according to psycho-sociological, generational and historical factors. Therefore, the objective of companies is to satisfy those demands with products that adapt to different niches.
Millennials
Millennials refer to all people born from the 1980s onwards, who are characterised as a digital generation, hyperconnected and with high social and ethical values. They are the generation most committed to their pets, and the one that currently invests the most in them, including beauty products, accessories, daycare and veterinary services, and also petfood.
It is essential to take into account millennials because they are now adults who lead trends in the market. There are many specific niches and that allows the market to launch more and more new, better and specialized products for these generations. Among them, the moist ones with super premium meats and differentials.
Millennials seek to give their pet the best, especially when it comes to food. Research indicates that 86 percent of this generation prefer to feed their pets a natural meal, with organic and healthy ingredients.
Because of this care around feeding their pets healthy food, this incorporates observing where the food comes from, in particular, the processes of the product developers. They’re look for sustainable companies committed to the customer, the environment and society.
Millennials’ perception
What distinguishes millennials from other generations is the particular humanisation of pets. These consumers consider that their pets are part of their family and demand the same values as for themselves. They look for products that not only satisfy nutritional needs, but also find individualisation, comfort and quality in them.
Three-quarters of millennials own cats or dogs, and in many cases more than one. Market research shows that 82 percent of millennials who have pets prefer to have a pet before becoming parents because it ‘prepares you for the next step’.
This alters the perception that people have of animals and also the possibilities that companies can provide customers with. New, more sophisticated and complex products are appearing on the market, such as wet foods.
Annually US $70 billion is spent in the pet (care and food) industry. In the US, 66 percent of households own one pet or more. This is a direct consequence of this generation that is willing to spend large sums of money in order to give the best to their pets, impacting on the global growth of the industry.
Baby boomers
The baby boomers generation is also important when thinking about market trends. This refers to people born between 1946 and 1964, following the explosion of the birth rate exploded at the end of the WWII.
In the last decade alone, baby boomers became the group with the most pets. In just ten years, this percentage has grown by 27 percent to 32 percent. In particular, the dog was chosen as a companion throughout these years. The baby boomer generation is prone to adopting puppies once their dogs die, continuing to be pet owners.
Currently, all types of customers need to be taken into account in order to understand what products need to be developed for the context in which we live. The consumption habits and lifestyles of generations have an impact on everything: the type of product, packaging, formulas, differential ingredients, product claims, marketing and trends, sales channels and logistics.
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