According to a recent report by The Wall Street Journal, legacy pet-food brands such as Mars’ Pedigree, Nestle’s Purina, and Smucker’s Gravy Train and Kibbles ‘n Bits have all seen sales sag as pet owners shift toward premium-pet-food products.
Many millennials are waiting longer to get married, buy a house, or have children, and they’re instead choosing to become pet owners.
“They treat them like it was their firstborn child,” Beverley Petrunich, owner of DoGone Fun, a dog-day-care center in Chicago told The Journal.
According to Nielsen, annual household spending on pet food among pet owners increased 36% between 2007 and 2017.
The article was published on Business Insider. Continue reading…