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The Influence of Socio-Economic Factors on the Adoption of Pets

Student: Sukhina Yuliya

Supervisor: Anton Valeryevich Tabakh

Faculty: Faculty of Economic Sciences

Educational Programme: Applied Economics (Master)

Year of Graduation: 2020

This work identifies and analyzes the socio-economic factors influencing the decision-making of pet ownership. Today, the society is gradually changing its attitude towards pet ownership, that affects consumer demand in the country. Therefore, the identification of factors which are influencing the individual’s decision to adopt a pet is the first step towards the determination of the portrait and needs of the society. Moreover, the industry of pet care products and services has great potential for the growth. That’s why knowing the desires and needs of the society will help companies in the industry to understand how they can meet the increased demand. The object of this study is the socio-economic and physiological characteristics of individuals and households in Russia. The subject of the study is the relationship between these characteristics and the probability of pet ownership. The study describes the segments of the industry of pet care products and services, as well as industry trends. Furthermore, it includes the analysis of the factors which are associated with pet ownership and the construction of binary probability models concerning the adoption of pets. According to the outcome of the work, all models have the same results as in the previous researches. For example, the presence of minor children and old people in the family positively affects the probability of pet adoption. Religion, on the contrary, has negative effect. Mostly, females, single and cities’ inhabitants have pets. However, household income almost has no any effect on the adoption of pets. In general, pet owners are younger, more physically active and happier than those who doesn’t have pets.

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