Man’s Best Friend or Fur Baby? New Wag! Survey De-tails the State of Pet Parenting in 2023
31 Enero 2023 - 8:00AM
Business Wire
Findings show that among Gen Z, dogs are moving
further into the ‘best friend’ category
At the dawn of a new year, Wag!, (Wag! Group Co.,
Nasdaq: PET), which strives to be the number one platform for busy
pet parents, offering on-demand access to five-star pet care, pet
insurance options, and expert pet advice, surveyed pet parents
nationwide to understand how Americans approach pet parenting in
2023. Sampling 1,000 dog parents from ages 18-65, spanning Gen Z to
Baby Boomers, Wag! found notable generational differences, as well
as unexpected common ground.
Today’s pets are increasingly living the high life, more akin to
humans themselves than the four-legged animals of yesteryear. From
organic diets to premium grooming, pet parents - Gen Z in
particular - are matching their furry companion’s quality of life
with that of their own. The “humanization” of pets is clear, but
takes on a different meaning depending on who you ask.
Wag! found that while Baby Boomers largely view their pets as
their children (49%), Gen Z actually think of them more as a best
friend (34%). Boomers maintain a traditional view of a pet’s place
in the home, sticking to a philosophy that centers around
affordability and discipline. Even so, 71% of Baby Boomers allow
the irresistible concession to let pets sleep in their bed.
Meanwhile, Gen Z is less rigid, with 36% of respondents describing
their training approach as “flexible.” This generational shift also
sees younger pet parents bringing their pets to more public places
like restaurants, dressing them up, and broadly spending more on
items such as food and fashion.
When it comes to food and nutrition, though, all generations
(Gen Z, millennials, Gen X, and Baby Boomers) agree to put their
wallets where their pets are, spending an average of $50 to $100
monthly. However, younger pet parents overall are less
budget-conscious, willing to spend premiums in areas like grooming
materials and services, fashion and accessories, and pet insurance.
While older generations see their pets as children, Gen X and Baby
Boomers spend less on their pets than Gen Z on a monthly basis,
despite Gen Z typically making less money.
Some other key highlights include:
All You Need Is LOVE
- Dating Dealbreaker: 33% would never date, and 35% would
never marry, someone who does not like pets
- Pucker Up: 30% of pet parents allow their pets to kiss
them on the mouth
Wellness
- Health is Wealth: 15% more Gen Zers use pet insurance
than Baby Boomers, while 23% more Baby Boomers report regularly
scheduled vet visits compared to Gen Z
- Let the Good Times Roll: 58% of pet parents say car
rides are their favorite activity to do with their pet outside of
the home
Eating Habits
- Bye-Bye Kibble: 53% of pet parents say their pet has at
least one dietary restriction, such as gluten-free or vegetarian
diets
- What’s Mine Is Yours: 31% feed their pets human food
“often” or “all the time” and 21% allow their pets to eat off their
plate
Fashion
- Furry Fashionistas: 55% of survey respondents dress
their pet in clothing or accessories and 73% of Gen Z will spend
extra for pet fashion and accessories (at least for special
occasions)
- Long Hair, Don’t Care: 73% of Gen Z survey respondents
say they will spend extra for premium pet grooming services and
materials
These shifting trends tell us that when it comes to human’s best
friend, pet parents will do whatever they can to provide the
absolute best possible lifestyle for their fur babies.
Survey Methodology Summary
This sample of 1,000 U.S. adults (aged 18 to 65) was surveyed on
January 6 and 7, 2023. All respondents are self-confirmed primary
pet parents of at least one dog. DKC Analytics conducted and
analyzed this survey with a sample procured using the Pollfish
survey delivery platform, which delivers online surveys globally
through mobile app and the mobile web along with the desktop web.
Sampling weighted gender and age (by generation) to reflect the
U.S. adult 18-65 population. No additional post-stratification has
been applied to the sample, which has a margin of error of
3.1%.
About Wag! Group Co.
Wag! strives to be the #1 platform for busy pet parents by
offering access to 5-star dog walking, sitting, and one-on-one
training from Wag!'s community of 400,000 pet caregivers
nationwide. In addition, Wag! operates Petted.com, the nation's
largest pet insurance comparison marketplace, Furmacy.com, a
concierge prescription and compounding service, and
DogFoodAdvisor.com, one of the most visited and trusted pet food
marketplaces. For more information, visit Wag.co.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Some of the forward-looking statements can be identified
by the use of forward-looking words. Statements that are not
historical in nature, including the words “anticipate,” “expect,”
“suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,”
“projects,” “should,” “could,” “would,” “may,” “will,” “forecast”
and other similar expressions are intended to identify
forward-looking statements. These statements include those related
to Wag! Group Co.’s (the “Company’s”) ability to further develop
and advance its pet service offerings and achieve scale; ability to
attract personnel; market opportunity, anticipated growth, and
future financial performance, including management’s financial
outlook for 2022. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this press release, including but not limited to:
management’s financial outlook for the future; market adoption of
the Company’s pet service offerings and solutions; the ability of
the Company to protect its intellectual property; changes in the
competitive industries in which the Company operates; changes in
laws and regulations affecting the Company’s business; the
Company’s ability to implement its business plans, forecasts and
other expectations, and identify and realize additional
partnerships and opportunities; and the risk of downturns in the
market and the technology industry. The foregoing list of factors
is not exhaustive. You should carefully consider the foregoing
factors and the other risks and uncertainties described in the
“Risk Factors” section of the Company’s amended prospectus
supplement filed with the SEC on November 8, 2022 and other
documents filed by the Company from time to time with the
Securities and Exchange Commission. . These filings identify and
address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements. Forward-looking statements speak
only as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and the Company
assumes no obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. The Company does not give any
assurance that it will achieve its expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230131005276/en/
Media: Media@wagwalking.com Partnerships:
Partnerships@wagwalking.com
Investor Relations Wag!: IR@wagwalking.com ICR for Wag!:
WagIR@icrinc.com
Wag (NASDAQ:PET)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Wag (NASDAQ:PET)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024