Owners insist on the most lavish sleeping spots for their spoiled pets
Implications - With fewer Millennials having kids, it seems that pets are reaping the benefits of their owner's excess income. Due to this, a surge in ultra-luxurious sleeping quarters for dogs have been devised -- with opulent dog day spas on the rise and even climate-controlled dens. As more owners continue to focus in on their pet's evolving needs, no matter how contrived they might be, specialized products are becoming more readily available to those willing to spend.
Workshop Question - If you were to make unexpected luxury a key aspect of your offering, how would that change your approach?
Trend Themes
1. Luxury Pet Accommodations - Owners are willing to spend on luxurious accommodations for their pets, with climate-controlled pet houses, opulent dog hotels, and Egyptian-inspired cat homes being some examples.
2. Specialized Pet Products - Pet owners are demanding specialized products that cater to their pets' evolving needs, such as one-for-one dog beds, premium pet mattresses, and Arvin Grex's Angus Bed.
3. Innovation in Canine Sleep - Innovative products such as the Casper Dog Mattress and the Aridus Den are addressing the specific needs of dogs while sleeping.
Industry Implications
1. Pet Care Industry - As pet ownership rates rise, the pet care industry is set to benefit from increasing demand for specialized pet products and luxury accommodations.
2. Home Décor Industry - As consumers view pets as family members, the home décor industry has an opportunity to create pet-friendly furniture and décor that appeals to pet owners and aligns with their home aesthetics.
3. Eco-friendly Industry - As consumers become more conscious about environmental sustainability, the pet industry has an opportunity to create eco-friendly pet products and accessories.
