They say that marketing is an art! An art that convinces people to buy things that they may or may not need. Marketing also opens the door to increasing the demand for a product by simply marketing it in a manner that makes people want it more. Now that’s the power of marketing, but do you know what is being marketed these days? Pet accessories like poop-bag holders and dog bowls!
Prada and Versace have now launched a pet collection targeting millennials who are willing to spend money on their pets, and now it has opened doors for other brands to use this as the perfect opportunity to get a hold of rich millennials. So, doesn’t it make you wonder why these brands are launching pet collections and why these millennials are buying them?
A Baby Is A Baby
Whether you are a baby boomer or a millennial, one thing you can agree on is that you want the best for your baby, even if it means buying ridiculously overpriced items. Now, the important thing to note here is the term baby boomers may only consider human babies to be while millennials consider their pets to be babies too. Can you blame them?
They are a generation that saw what it is like running a household full of children, and they are also dealing with economic instability, which has made it quite difficult to even afford a human child.
Pets Are Babies
These two factors have pushed many to be completely child-free. For the rest, it has been decided to have children is quite difficult. However, pets, on the other hand, are the perfect alternative as they are lovable, independent, and less costly. With this thought process in mind, now you have millions of millennials who consider their pets to be children. Even going as far as spending thousands of dollars on their accessories.
A Golden Opportunity
For brands, this is the perfect opportunity to sell 150-pound dog collars and 125 pounds bags essentially made for carrying fecal matter. A. Houndmarch, which explored the pet industry by launching a popup store, reportedly met 3000 people and their fur babies.
The source also mentioned that it was heart-warming to see the impact that pets have on human lives. While the A. Houndmarch project was short-lived; some brands plan to take it to the next level, like Prada, which released a collection of puffer jackets and coats in 2020 solely for pets that started at just $495. Even Versace hopped on the growing trend in the market and expanded its homeware to include pets.
For businesses, it is their goal to reach out to more audiences and groups of people that they’ve never targeted before. This time, with pet accessories, designer brands have found a target audience that adores their pet dogs and considers them family.
There’s no doubt that pets are family but does it justify spending this much on an item that you and your pet can live without?