Explore the world of pet brands

Products such as a $520 raincoat and a $4,000 feeding bowl are typical examples of the luxury of the world of pet brands…

Keeping pets has become a popular movement in recent years, especially after the Covid-19 pandemic. Many luxury brands have recognized this potential and have begun to shift their business focus to serve the pet market.

DELICIOUS PIECE OF CAKE

Since 2020, the Covid-19 pandemic has changed the way people live and work. Countries that have imposed lockdowns and limited social interactions have left many people bored, so they have decided to adopt pets as a way to reduce loneliness and gain new joy.

Besides, with the increase in considering animals as important members of the family, many owners are willing to spend more on high-end products and services to care for and please you. your companion.

According to Business Research insights, the global pet accessories market size is 20,510 billion USD in 2022, expected to reach 32,290 billion USD and reach a CAGR (compound annual growth rate) of 7.9% by year 2028.

Kristen Boesel, senior lifestyle and entertainment analyst at market research firm Mintel, has been tracking the luxury pet sector for four years. Millennials are wealthy.

Because the Millennials generation, also known as the millennium generation, is a demographic group located between generation X and generation Z, the time period in which this group was born was from 1981 to 1996. They have Their income is higher than that of previous generations, so they often spend more on personal hobbies, such as raising animals.

Pagerie, a luxury pet brand, shared: “In recent years, the majority of consumers are willing to spend more generously on their pet’s lifestyle and image. When customers come here, we realize that the owner and his pet can also become a matching pair in terms of style.”

Therefore, Pagerie company decided to promote the trend of matching clothes for owners and pets, continuously launching unique lines of matching shirts and matching accessories to attract a large number of customers who like to show off. special feelings for your four-legged friends through fashion trends.

In order not to miss out on the “delicious piece of cake” in the pet accessories market, a series of famous brands for humans are also aiming to sell pet products.

LUXURY ACCESSORIES FOR PETS

It is known that luxury pet products are designed and manufactured from high-quality materials such as genuine leather, natural fabrics and precious metals… including toys, leashes, beds, travel bags. calendars or even fashion outfits.

In fact, the rich are not afraid to spend money to buy luxurious accessories for their pets. For example, Celine’s pet bag costs $6,500, made from high-quality Triomphe canvas, combined with soft brown cowhide with the company’s logo pattern, creating a luxurious and classy look. grant.

It will be perfect for small animals who love to travel, as the bag is both water-resistant and has a breathable mesh window and a zip around it.

Or like Prada’s nylon dog collar costing $240 and made with the same technique as making handbags. It has the brand’s triangular logo sewn prominently.

In addition, a raincoat model for dogs from the same brand costs 520 USD, designed with the same details as a jacket for humans. However, the shirt comes with an opening and closing buckle to make dressing them quick and easy.

Not only are luxury human fashion brands entering the pet market, but jewelry companies are also entering the high-end pet market.

It is known that Tiffany & Co. is a leading luxury jewelry company headquartered in New York City, USA. The company is famous for producing and selling high-end jewelry items such as rings, necklaces, bracelets, watches and other accessories for people.

However, recently the company has also launched pet accessories including collars, leashes, bowls,…

The brand’s dog bowl product costs $4,000. This is a premium and luxurious item, made from top quality sterling silver to ensure pet comfort and safety. Accordingly, it has a minimalist design with silver color scheme.

In addition, technology companies also participate in the “race” of pet products.

Recently, at the consumer electronics exhibition (Ces 2024), Samsung recently launched an AI-powered airtag specifically for animals. The company introduces this as an item to attach to pets’ collars, allowing owners to track them anytime, anywhere on their phones.

Additionally, it also stores identity information thanks to the artificial intelligence-powered SmartThings app. The price of an airtag is 30 USD/1 piece.

Thereby, everyone can see that the pet luxury market is emerging with a strong increase in demand for pets, despite economic inflation.

Category: Pet