i3 - July/August 2018 - 44

Business
STATS A N D FACTS

Pet Tech: Devices for Your Best Friend

 A 

mericans are equipping their pets with the latest gadgets at a record pace,
according to CTA's study Pet Technology: Ownership, Use and Perception.
This year, CTA forecasts pet technology will generate $233 million in shipment revenues thanks to high consumer demand for products like interactive toys and pet health
apps. As consumers embrace the peace of mind it brings to them, CTA predicts the
market to reach $360 million by 2021.

PET TECH MARKET FORECAST

8,000

400

7,000

350

6,000

300

5,000

250

4,000

200

3,000

150

2,000

100

1,000

50

0

Shipment Revenues ($ Millions)

Unit Sales to Dealers (Thousands)

The pet technology category is forecasted to see continuous growth over the next few years. Projections of shipment
revenues are estimated to rise to roughly $233 million in 2018.

Interactive toys are the
most commonly owned and
used pet tech devices among
those aware, accounting
for 50% of purchases. GPS
services accounted for 27%.

0
2016

2017

2018

2019

2020

2021

Year-over-year changes

)

47%

Have never personally owned a pet before
200
to $
Up

26

34%
58%

Online pet retailer Mass merchant online
(e.g. Chewy)
(e.g. Walmart.com)

35

$100
0+

Mass merchant
(e.g. Walmart)

52
33

Have personally owned a pet before

5%
Pet store (e.g. Petco) Online-only retailer
(e.g. Amazon)

60

00
$1,0

38

62%

The ease of cleaning a pet tech
product is significantly more
important to cat owners than dog
owners (47% vs. 32% respectively).

01$2

40

15%

0

47

37%

Female pet owners are significantly
more price conscious than males
when deciding to purchase a pet tech
device or service (68% vs.
57%, respectively).

Don't know 3%

Cost

Simple to use

Durability (e.g.
waterproof)

Ease of cleaning

Trustworthy/
heard of brand

Source: CTA Market Research
44

JULY/AUGUST 2018

I T I S I N N O VAT I O N

Image courtesy of Tractive

51% of first-time
pet owners are
likely to purchase
from online-only
retailers, compared
with 39% of prior
pet owners.

TOP FIVE PURCHASE DRIVERS
Cost and simplicity are the top pet tech purchase drivers.

$20
1-$
1,

72%

43% of pet owners
with children are
likely to purchase
from mass merchant
stores, compared
with 37% of those
without children in
the home.

TOP PRICE POINTS
More than half of pet tech owners spent $200 or less
on pet tech in the past year
Up to $
Don't know 1%
200

00

Male and female
pet owners
are equally as
likely to shop
at physical pet
stores

Online Store
Physical Store

$1000+

POINT OF PURCHASE
Pet owners are most likely to purchase pet tech
from physical retail pet stores.


http://www.CTA.tech/research http://www.Walmart.com

Table of Contents for the Digital Edition of i3 - July/August 2018

Contents
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