The booming business of luxury for pets

The COVID-19 pandemic brought about a critical change in buying behavior. Among other things, it boosted the consumption of products within the premium segment, both for people and their pets. In a bid to take advantage of the rising number of pet owners around the world, companies are trying to seduce a new audience of consumers who do not mind spending more money to provide the highest level of comfort to their pets.

Regional differences
Although there is no clear pattern so far, industry insiders believe that the most significant growth in interest in this specific segment is currently occurring among pet parents in the US, the UK and the Asia- Pacific region. Recent data from MoneySuperMarket shows that pet owners in the UK spend almost £500 (€592 / $654) per year on luxury items for their pets, especially treats and toys. In addition, more than 7 out of 10 are willing to spend more on luxuries for their animals than for themselves.

Designer brands
It is almost impossible to find an international designer brand without a product line dedicated to the household’s furry friends.

One of the most popular ones is Louis Vuitton, which presents a selection of must-have accessories for pet owners who want to pamper their animals. One of the most well-known products is the stylish dog carrier bag, but the brand also has exclusively designed pet collars and soft blankets. Likewise, Italian designer Prada offers a wide range of accessories for animals. These include a crystal- studded satin pet collar and various models of raincoats with hoods made of nylon – one of the brand’s most characteristic fabrics.

In 2021, as part of its home collection, Versace presented a new line of plush pet beds trimmed with golden Barocco accents, referencing the iconic Versace bathrobes. The brand also sells collars, leashes and harnesses adorned with golden Medusa medallions.

Meanwhile, earlier this year, French brand Hermès introduced 2 new luxury products to its portfolio. One of them is a portable cavaletti dog house inspired by equestrian showgrounds. The other is a reinvented dog tote made of lightweight canvas fabric. ‘Designed for convenient everyday use, it also features a leather name tag and a metal plate ready to receive the dog’s name,’ states the product description.

Zara Home has also recently launched a collection for dogs, including clothes, accessories, toys and even customizable beds.

Pet-friendly accommodation
As traveling with animals is becoming the new normal, hotel chains around the world are joining the trend by extending an especially warm welcome to guests’ pets. According to Matt Schuyler, Chief Brand Officer for Hilton, travelers are nowadays looking for accommodation that is ‘100% pet-friendly’ instead of simply ‘pet tolerant’. Canopy, one of the hotel chain’s brands, recently launched the ‘Paws in the Neighborhood’ program. This initiative includes access to a dog bed, food, water bowls, treats and a guide to pet-friendly activities in the vicinity.

In a similar context, a few months ago Mars Petcare and Hilton embarked on a partnership to set new standards and consolidate pet-friendly traveling. The agreement covers 100% of Homewood Suites by Hilton and Home2Suites by Hilton properties across the US and Canada. Pet parents can pay a $50 (€45) fee to gain access to the Mars Petcare digital service. As a first of its kind for the travel industry, it provides access to experts on pet health, wellness and behavioral issues to answer any questions that may arise during the trip. According to Ikdeep Singh, Regional President at Mars Petcare North America, this service addresses “a common pain point” for pet parents.

Driving in comfort and style
Just a few months ago, car manufacturer Nissan launched a new range of products called Dog Pack, including a suite of new accessories and merchandise for its crossovers and SUVs to ensure that owners’ four-legged friends feel comfortable during road journeys. The range, which is currently available for customers in Australia, includes a rear protection tray or mat, a reflective boot-lip protector, a four-piece dog travel set – comprising an easy-store bowl, a lead, a waste-bag holder and a sealable food bag – as well as an over-seat cargo-area organizer and an all-terrain dog bed.

Despite it still being early days since the launch, the company states that customers have received this new service “very well”. Another Japanese manufacturer, Honda, introduced a range of dog-related car accessories in 2021, including an innovative dog carrier that fits in the seat.

Luxury food and drinks
Manufacturers have been working on the premiumization of pet food for a few years now, and the market is slowly seeing the appearance of new pet food products that resemble existing luxury goods for human consumption.

The London Fine Foods Group, a supplier to Michelin- star restaurants in the UK and Ireland, has created caviar especially designed for canine consumption. “Dogviar is a fun and innovative complementary pet food for puppies and dogs. It is a luxury sturgeon caviar pet treat containing 4% pure caviar oil,” explains Director Jemima Benning to PETS International.

The product is rich in omega-3, 6 and 9 and it is presented to dog owners as an additional sustainable by-product from the sturgeon roe and placenta. “Pure caviar oil is used in Dogviar as opposed to traditional caviar,” adds Benning. The product has already attracted the interest of some individuals on social media and the company expects to establish more business-to-business sales later this year.

Meanwhile, in the US, PetWineShop provides liquid supplements and beverages for pets. Among the most popular items are the cat and dog ‘wines’; the cat wines are liquid catnip products, while the 2 flagship dog wines ‘ZinfanTail’ and ‘Chardognay’ contain 100% Alaskan fish oil and glucosamine for bone health.

“We are in the process of releasing several other combinations that will help our furry friends become more hydrated in the classiest fashion possible,” comments founder Brandon Zavala. The products are mainly sold in pet stores and online and the company expects to achieve $400,000 (€364,950) in revenue in 2022.