By CultureBanx Team
- U.S. consumers will drop $10B+ on costumes, candies, and decorations for Halloween 2021
- Black people spent $130M on pet supplies which includes clothes
Pets are getting roped into Halloween like never before, as their owners get ready to shell out a record breaking amount to dress them up. If there’s one industry in which money can still be made, it’s pet food and supplies where owners are projected to spend $72 billion this year, definitely tapping into the $1.4 trillion that African American’s possess. Millennials are the most likely to dress up their pets for the season, often posting their animal’s Halloween look on Instagram, where Black adults make up the largest user group.
Why This Matters: A survey by Branded Research found 41% of Black pet owners have dogs and 44% have cats. They spent $130 million on pet supplies which includes clothes for their pampered pooches last year. Since millennials are the most likely to dress up their pets for the season, and post their animal’s Halloween look on Instagram, they should be a big focus consumer group.
Millennials are the most likely to dress up their pets for the season, often posting their animal’s Halloween look on Instagram
The National Retail Federation (NRF) estimates that U.S. consumers will drop $10 billion+ on costumes, candies, and decorations for Halloween 2021. This group credits social media for near-record Halloween spending in general, as Americans are laying out more than $3 billion on costumes for kids and adults.
Situational Awareness: Amazon (AMZN -1.09%) launched Wag, its own line of pet products. They debuted with dry dog food which is a difficult item to sell online because it’s heavy and expensive to ship. The survey found Black pet owners are willing to pay $50 or less for pet food, which could make Wag dog food an attractive option.
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