Two new studies released by Marketing to Moms Coalition and Frank About Women show women plan to spend less on themselves this holiday season and even their neighbors, friends, relatives, etc. are getting a budget cut.
Who won’t be impacted on their holiday list? Their children. In fact, 96% said they won’t let a bad economy stand in the way of giving gifts to their kids. Why does this matter to pet retailers? Because many of our customers think of their pets as their kids. How many of us actively use this information in our marketing and PR strategy?
I doubt the percentage is the same but it should be. Every newsletter, media release/interview and customer interaction in the store should include a reference to “their kids.”
Agreed, kids and pets are both lifetime obligation and as people face personal spending cuts I hope they consider the ramifications of their decisions.
On an unrelated comment, thanks for all your comments!
Call me Scrooge, but, I think people’s insane spending habits over the past decade, plus or minus, have finally caught up with them. Falling or steady incomes plus a high average consumer debt = bad idea. Here’s hoping that the general public wises up and starts saving at least a respectable amount of money instead of giving their toddler hundreds upon hundreds of dollars worth of toys for every single holiday and birthday. Of course, with that, is also a sad day for the pets. An increasing number of pets are being surrendered to animal shelters (which is a lame excuse, considering that a bag of dog food costs $1 at a dollar general)– with falling adoption rates. I’d much rather see someone adopt a dog than buy their kid the latest “bum around all day on the couch” gaming console.