Pet owners are spending billions on luxury boarding, enriching doggy socialization, and upscale dining for their dogs. And it doesn’t end there!
While owning a dog is now more expensive than ever, a recent article from NBC News discusses how pet owners are more than willing to spend big bucks on their pets to provide them with all the modern luxuries that they themselves enjoy. This means pet owners are willing to shell out for luxury boarding stays, gourmet meals, spa services, and the latest tech products that keep dogs fit and stimulated.
“The two main areas we’re seeing is you’re adding to the pets’ safety or you’re adding to their enrichment,” says Pet360.com editor-in-chief Wendy Toth. “That makes for a calmer owner or a calmer pet, so the time they spend together they can focus on one another.” Hounds Town focuses specifically on this area of pet care, offering fully interactive daycare to stimulate dogs’ psychological needs to address separation anxiety, chewing, barking, depression, and other behavioral issues, thus making for a happier and calmer dog.
With more and more couples putting off having children until later in life and instead opting for a dog, opportunities abound for pet care facilities and franchises to offer services that people are willing to pay for. “Customers are willing to spend more money on their pets today,” says Toth. “More and more people have a ‘nothing is too good for my baby’ attitude,” she adds.
Spending on pets topped $60 billion in 2015, up 25% from just 5 years ago. With that kind of growth, the sky is the limit for unique, luxury, and tailored pet care services and franchises to tap in to a market that shows no signs of plateauing any time soon.