This article presents important food for thought. Highlights include:
- Pet industry sales will grow to $91.72 billion by 2019
- 50% of dogs and cats are considered overweight
- 39% of dogs and 43% of cats are considered old
- 60% of pet spending will come from high-income households
Veterinary and dealer segments will experience these same retail trends. It is important to prepare now to meet the needs of overweight and aging pets. Training hospital staff in people skills is important to service upper income pet owners to their satisfaction.
Source: Pet Product News International, January 2016, page 6.
Findings the comprehensive report, U.S. Pet Market Outlook, 2015-2016 by Packaged Facts, explain the major trends that will affect the pet product sales throughout 2016. Key areas include: Premiumization of products and services focus adjustments; human and pet bond as a marketing theme; overweight pets; aging pets; pet industry entrepreneurs and start-ups; and industry dependence on upper-income households.