“Pet is now more than a category, reports Drug Store News. It’s a topic that connects to consumers so viscerally that its power has gone well beyond the pet aisle. It holds the key to customer engagement across the store.”
“The well-respected survey that’s been a barometer of American politics, culture and behavior for more than four decades finally got around to the question that has bedeviled many a household: dog or cat?”
“Holiday time means gathering friends and family and increasingly that includes the family pets. But that can mean drama for both the pet owners and their hosts if rules and responsibilities aren’t clearly laid out. Ipsos polled 1,003 Americans on their attitudes about whether they allow friends and family to bring pets to their homes, how they’ll travel or not with pets and how pet owners accommodate their pet needs in other people’s houses.”
More U.S. households have pets than have children. And in most of those homes, “pet parents” regard their animals as an integral part of the family—their health and happiness high on owners’ priority lists. For pet brands, pet owners’ need for information and their impulse to show off their pets present myriad opportunities for engagement.
In addition to familiarizing themselves with their pets’ routine and behavior, pet owners should schedule their pets’ semiannual veterinary examinations on a regular basis to help prevent and identify certain conditions before they become serious or costly. According to Veterinary Pet Insurance Co. (VPI), the most common cause for taking a dog to see a veterinarian is skin allergies. For cats, a bladder infection is the most common reason to visit the vet.
There is a lot more to the pet industry than dogs and cats; tens of millions of adults–and their kids–enjoy the companionship of non-canines and non-felines. According to new research from Packaged Facts, American pet owners live in the company of 116 million fish, birds, small animals and reptiles. The spending power of owners of pets other than cats and dogs has a significant impact on the bottom line of marketers and retailers of pet products and services.
Despite a turbulent economy, the retail sales of pets and related supplies and services have produced consistent gains from 2007-12. According to Mintel, the pet market is worth more than $49 billion in 2012, up 15% since 2007. With a retail value of $18.1 billion, pet food accounted for the largest share of sales in 2011 (37.8%). Veterinary services represented the second-largest segment generating over $12 billion annually.
Retail sales of non-food pet supplies totaled $11.1 billion in 2011, up 2% over 2010, according to a recently released Packaged Facts report. From a high of 5% in 2007, annual sales gains slowed during the economic recession of 2008-2009 and its aftermath. However, Packaged Facts is predicting a gradually improving showing for pet supplies as pent-up demand finally begins to kick in.
According to new reports from Packaged Facts, main factors propelling the pet market include the burgeoning pet parenting phenomenon, and the increase in pet ownership by family-oriented and demographically potent Hispanics. Higher-income households are also simultaneously a crucial component of the pet market, with households earning $70K or more annually accounting for over half of overall pet industry expenditure.
U.S. pet industry sales reached $56.67 billion in 2011, up from $54.56 billion in 2010. Natural, organic, and eco-friendly products continue to advance, as do pet health products and services including medications, supplements, and insurance. The U.S. pet industry is poised for continued growth as more pet owners consider their pets to be “part of the family.”
According to Mintel, the pet industry is expected to maintain a steady pace of growth, increasing by 33% over the next five years. Research shows that 76% of dog or cat owners consider their 4-legged companions to be part of the family. This closeness creates marketing and sales opportunities that go far beyond basics such as food to include apparel, toys, treats, vet care and grooming, just to name a few.
Despite the relative sluggishness of 2010, the U.S. pet market remains healthy due to numerous strong underpinnings, which will continue to support steady market growth for the foreseeable future, according to a new report from market research publisher Packaged Facts. Reinforcing a health focus is the fact that health-oriented product areas showed growth in 2010, including cat and dog treats (particularly those with a functional health benefit), refrigerated/frozen raw foods and cat and dog supplements and nutraceutical treats. Success of these products in the midst of product sales doldrums elsewhere suggests that pet owners are willing to spend more on products that are linked to pet health.