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MARKET CASE STUDY: GLOBAL

How have the TGM Global Pet Care Survey 2023 Insights Empowered Business Growth?

Explore how TGM Research pet care insights are transforming business strategies in the real estate sector, empowering companies to drive growth and foster innovation by leveraging the latest trends in pet ownership.

How have the TGM Global Pet Care Survey 2023 Insights Empowered Business Growth?

Upon our release, the findings of the TGM Global Pet Care Survey 2023 quickly garnered attention from major media outlets and industry leaders worldwide, including Major Development Public Company Limited—a leader in luxury condominiums in Thailand. Traditionally centered on real estate, Major Development saw an emerging opportunity in the growing pet care market. The increasing trend of viewing pets as family members presented a clear potential to integrate pet-friendly amenities into their property developments, leveraging insights from TGM's global report to make informed strategic decisions.

Forbes Thailand

 the first real estate brand in Thailand to allow exotic pets in condominiums
 Forbes Thailand -  Exotic Pets
English translation of the article title by Forbes Thailand on 14 March 2024.
"Major Development is the first real estate brand in Thailand to allow exotic pets in condominiums."
"The trend of pet ownership has significantly evolved in the past 2-3 years. According to TGM Research, over 58% of people worldwide now consider pets as family members. Interestingly, in Thailand, the rate of pet ownership surpasses the global average, reaching 73%. Moreover, the preference for single-pet households is also high, with 45% of Thai families opting for only one pet. However, it's noteworthy that a considerable number of Thai households, accounting for 23%, choose to raise two pets, and 24% raise four or more."
Phetlada Poolvoralak, CEO of Major Development Public Company Limited

Impact on Business Strategies

What has been the impact of TGM's Pet Care Insights on Major Development's strategy?
  • Enhanced Understanding of Market Trends: TGM's report provided Major Development with profound insights into the global trend of treating pets as family members, especially relevant in Thailand where pet ownership rates far exceed the global average.
  • Data-driven Decision Making: Equipped with data from the report, Major Development was able to make informed decisions about incorporating pet-friendly amenities in their real estate projects, addressing the needs highlighted by the prevalence of single and multiple-pet households.
  • Introduction of Exotic Pet-Friendly Residences: Insights about the diversity in pet ownership and the rise of alternative pets informed Major Development’s launch of Thailand's first exotic pet-friendly condominium project, “MAJOR Pet Family Residences: Exotic Pet.”
  • Strategic Marketing and Brand Positioning: The survey findings enabled Major Development to tailor their marketing strategies to directly appeal to pet owners, positioning themselves as pioneers in pet-inclusive residential projects.
  • Partnerships and Collaborative Efforts: Using the survey as a foundation, Major Development formed partnerships with veterinary services like Thonglor Animal Hospital to provide top-notch pet care, enhancing the living experience and satisfaction of residents.
  • Influence on Future Projects: The success and insights derived from the implementation of pet-friendly amenities inspired plans to expand these features across all future Major Development projects, ensuring a consistent approach to accommodating pet owners. 

About the TGM Global Pet Care Survey 2023

In recent years, shifts in cultural attitudes and consumer behavior have significantly altered the landscape of pet ownership. Recognizing these trends, TGM Research , a global leader in market research and data collection, conducted the TGM Global Pet Care Survey 2023—one of the largest pet care reports in the world. This extensive survey collected detailed data from 40 countries, focusing on the evolving dynamics within the pet care industry to illuminate the changing perceptions of pet ownership and their subsequent effects on consumer behavior.

Our Goals

The primary objectives of the TGM Global Pet Care Survey 2023 were to:
  • Analyze global trends in pet ownership and attitudes towards pets
  • Understand consumer preferences and purchasing behaviors in the pet care market
  • Provide actionable insights for businesses operating within or entering the pet care industry
Employing its innovative survey technology, TGM captured data from a diverse global demographic, ensuring a comprehensive analysis across various cultures and regions. The survey probed into a range of topics concerning pet ownership, including spending habits and preferences for pet care products and services.
At TGM Research, we are thrilled to see our projects not only support businesses directly involved in the pet industry but also benefit companies like Major Development who leverage our comprehensive research. As experts in market research, we are committed to providing reliable data collection solutions and insightful services that drive strategic decisions and foster industry innovation. If you are considering conducting your own study and want to tap into global consumer intelligence, contact TGM Research today.
Experience the definitive power of precise data and actionable insights with us!

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