Covid-19 has created a pet boom, with humankind across the world seeking solace, affection and touch from furry friends. WGSN started tracking the recent rise in pet ownership last year and it’s very much a worldwide phenomenon; by 2025, the global pet market will grow by nearly 5%, according to Robeco.
In this pawsome episode, our experts (and pet owners) discuss what this consumer behaviour means for the future of work, leisure and retail space, plus the many brand opportunities it presents for new products and services.
Mental health heroes
“Some say pets are the new furry Xanax for people who are in collective compound trauma or coming in and out of lockdowns. Even the coldest of hearts can't turn away a nudge from a cat or dog, so it’s definitely provided mental wellness relief for many people and pet therapy is so healing. That’s why it continues to transform regular lives pre-pandemic and hopefully post-pandemic.”
– Andrea Bell, Director, WGSN Insight
Room for oppawtunity
“People are looking for products that have the same properties and values that they look for themselves. So if you’re into clean beauty, you want clean beauty products for your dog. If you want ethically sourced products, you’re going to look for that. If you’re using CBD, there’s CBD products for dogs. A good rule of thumb is, if it’s happening for us, it should be happening for your pets as well.”
– Clare Varga, Head of WGSN Beauty
Revolutionising the workplace
“The circumstances under which people got pets in the last 18 months have been very unusual, the bonds they have with their animals are very strong. A recent statistic stated that 72% of US C-suite executives expect more workplaces will be pet friendly in the future. We’re going to see a shift towards thoughtful and forgiving strategies implemented by companies around pet ownership.”
– Laura Saunter, Senior Strategist, Insight