OUR ANNUAL $PETACULAR V-DAY I$$UE

We shall spend a mind boggling $703 M on our PETS for V-Day 2015. We’ll spend more on our Significant Others, Other Family, Kids & Teachers and Friends, but less on Co-Workers and Others than we shall on PETS. Given, whether we spend more or less on PET$, we treasure THEM, and spend lovingly on them for V-Day. Truly, they are our heart throbs whether we gift them with an Amour de la Mer necklace (for a mere $899,000) or spend $28 (10% off for V-Day special) for Heartgard to fight heart worms. The Am Vet Owners Assn tells us that we own 74 M+ cats & 70 M dogs. The love & emotion that we have for our PETS is deeply seeded. Some of that deep seeding is expressed by the facts below,

  • Slightly over 1 in 5 Americans (2%) plan to PET spend on V-Day (NRF).
  • A whopping 85% of people would rather spend a Fri night “in” with their PETS then party “out.” (com)
  • 75% of folks prefer PETS and would rather “PET snuggle” than “significant other” snuggle.
  • According tocom, 35.7 M dog’s n cats will be gifted V-Day from their owners in 1 form or another.

The Wild Card for V-Day spending from now on and especially for PET spending will be MLLNNLS. Arguably, V-Day is their day. It is a young people’s dream day, a showing of caring and sharing. Love is in the air. It’s all about uplifting gifting, RIGHT? We have made categorical generational estimates from the NRF V-Day survey. Based on these estimates we then calculated the % of spend difference b/t the 2 youngest adult generations by category of giftee (MLLNNLS are roughly those from 18-34 and GEN XERS are roughly those from 35-54).

More Millennials (60%) will celebrate V-Day than any other generation. Correspondingly, they will outspend EVERY other generation, spending about $190 per. Gen X is next, spending about $50 less per. Below, using NRF data we estimate the V-Day spend by those 2 generations.

 
CATEGORY AVG MLLNNL SPEND AVG GEN X SPEND DIFF IN SPENDING
Significant Others $111.27 $95.02 17%
Other Family $30.79 $28.86 7%
Friends $12.08 $7.09 70%
Kids/Teachers $9.13 $8.14 12%
Co-Workers $8.86 $4.58 94%
Pets $10.34 $4.37 137%
Others $7.62 $7.87 56%

Surely, there can be no debate regarding either generation’s main V-Day spending focus of Significants followed by Other Family. After that it becomes much much more complicated with MLLNNLS choosing Friends as #3, PETS #4, & Co-Workers #5. The older GEN XERS selected Kids/Teachers #3, “Others#4 and Friends #5 (PETS were #6). The real news from the above table though is that the % DIFF in spending on giftees by MLLNNLS vs GEN XERS. WOW! MLLNNLS will spend 1 times+ more than GEN XERS will on PETS, 94% more on Co-Workers and 70% more on Friends. Home may be where the heart is for MLLNNLS when it’s the “dog house,” “a cat basket” or “a bird cage.” WOW! Perhaps, the most surprising finding was that men spend more than twice as much on PETS than women do. (The ONLY other gifting categories that men so completely overwhelm, forgetting “Other,” is Significants & Co-Workers. In other words their PET SPENDING is the real deal.)

We continue our MLLNNLS – PETS bonding discourse by referring to Main Strt’s Amy Vie who writes that:

  • 76% of MLLNNLS make impressive pampering buys for their PETS b-4 themselves VS 50% for BABY BOOMERS (Wakfied Research).
  • As PET owners, MLLNNLS are “grandiose, conscientious, and irrational” when buying for their PETS. They view their PETS as image extensions of themselves to be selfied as opposed to being a “family member.” (Dr Peter Noel Murray, NYC C’er Psychologist). More than ½ of MLLNNLS will share selfie with PETS, while ONLY 9% of BOOMERS will do the same.
  • For MLLNNLS on social platforms (90% are), 66% have Fcbk accnts for PETS, 38% do Twitter & 34% on Instagram.
  • MLLNNLS view their PETS as possible training grounds to help them become more

Finally, we note the importance of MLLNNLS to the PET MARKET b/c it will likely be $60 B this yr!

V-DAY PET PRODUCTS
Product Company Price
Diamond Studded Tiara* Riwin Jirapolsek $ 4.6 M
Diamond Dog Collar**  I love Dogs $ 3.2 M
Pet Pavilion LouiS XV $ 23,900.00
Dog Perfume (4oz) lespoochs.com $ 3,000.00
22K Gold Tread Pet Mattress consumeraffiars.com/magiflex) $ 3,000.00
Swarovski-studded Cat Flap Swarovski $ 1,644.00
XL Pro Dog Treadmill dogtread.com $ 1,599.00
Cat Cabin N/A $ 1,396.00
Designer Pet Clothes Roberto Cavalli $ 1,200 – $ 110
Barocco Pet Bowl Bersace $ 754.00
Mink Fur Coat for Dogs Hartman & Rose $ 725.00
Novel Dog Jogger-Stroller doggyride.com $ 485.00
Cashmere Sweater(4 dog) theelaganthare.com $ 150.00
The iFetch Automatic Ball Launcher for Dogs PetFancy $ 115.00
Whistle Activity Monitor shop.whistle.com $ 100.00
Ruffwear Bark’n Boots Polar Trex Dog Boots Only Natural Pet $ 94.99
Pet Gear Happy Trails Pet Stroller Chewy.com $ 78.99
Personalized Pet Paw Print Memory Box MemorableGifts.com $ 74.95
Cat Lover’s Gift Basket gourmetgiftbaskets.com $ 59.99
Ruffwear Climate Changer Fleece Dog Jacket Frontgate $ 59.95
Pet Gear Clip-On High Chair for Pets Pet Gear $ 52.99
Pet Tunes Bluetooth Speaker petacoustics.com $ 49.95
Dog Safety & Fun! Gift Basket Keep Doggie Safe $ 39.99
Sailor’s Knot Bold Multi Color Collar mymascot.com $ 38.00
Personalized Pet Driver’s License ID tag kit Frontgate $ 29.50
Enchanted White Princess Dog Costume Frontgate $ 29.50
Cat Crib Unique Cat Hammock PetFoodDirect $ 28.99
Cat DJ Scratching Deck entirelypets.com $ 26.99
Small Pet Critter Cruiser wag.com $ 18.00
Bergan 88150 Turbo Track Cat HealthyPets $ 15.59
Individual Dog Birthday Cake PosBagofBonesBkery $ 12.75
Cotton Candy Pupcakes pampered-dog-gifts.com $ 9.95
Trophy Play Balls harrybarker.com $ 6.00
Pet Nail Polish Glitz $ 6.00
*a Thai jewelry designer, who made his dog, Kanuae, a tiara for 4.2 M in 2009 (NY Daily News). Today its worth $4.63 M
** Info collected from DailyMail.UK
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About bernacmd

For over 24 years, University of Detroit Mercy Marketing Professor Michael Bernacchi, Ph.D., J.D, has produced "uNDER tHE mIKE-rOSCOPE", a newsletter discussing current "marketing and advertising¹s bends, trends & ends." A well-know fixture in Detroit and national media, UDM's marketing guru has made several appearances on CNN's "Talk Back Live," the Voice of America worldwide radio network (VOA), ABC, CBS, NBC, MSNBC and on the pages of Sports Illustrated, Time, TV Guide, the New York Times, USA Today, the Wall Street Journal and the Washington Post, to name a few. At University of Detroit Mercy, he has taught courses in Marketing Management, Consumer Behavior, Marketing Communications, Research and Corporate Social Responsibility and Sports and Entertainment Marketing. Michael Bernacchi can be reached at 313-993-1116 or bernacmd@udmercy.edu. Please appropriately attribute the following for their work on uNDER tHE mIKE-rOSCOPE: Yen Ju Lee Robert Rouse Vidhyasagar Natarajan Eric Baumgardner & Ian Young
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