The epidemic has pushed dogs, cats, and other small animals to the top of the holiday gift list
This article asks pet product retail giants to tell you what is the skyrocketing demand for pets?
Foreign media described a common situation that occurred during the epidemic:
During the first few months of the global pandemic, Meagan worked from home. After spending a long time in a quiet house, she felt the need for companionship. About two weeks ago, she found a solution in the abandoned box near the mailbox.
She heard a wail. Inside, she found a several week old puppy wrapped in a towel.
Her new rescue dog Locust was one of the many members who joined the family through adoption and foster care during the epidemic.
As Americans prepare for the holiday, retailers and industry observers predict that the pet craze may drive the sales of snacks, furniture, pet sized Christmas sweaters, and other gifts for pets such as cats and dogs throughout the holiday period.
A survey by consulting firm Deloitte shows that pet products are expected to become one of the most gift giving categories.
About half of the over 4000 people surveyed by the company said they plan to purchase pet food and supplies during the holiday period, with an average cost of around $90 for pet supplies.
Pet owners have more time. When we all have more time, pets actually become more interesting and attractive
Pets are usually a category that is quite prosperous and difficult to decline, and people will continue to spend money on pets, just like spending money on children and family.
Prior to the pandemic, pet care expenses were on the rise. Jefferies’ research suggests that this $131 billion global industry will grow at a compound annual growth rate of 7% over the next five years. The United States is the largest market in the pet care industry, with a market of approximately 53 billion US dollars, and is expected to reach approximately 64 billion US dollars in the next four years.
Deloitte’s Sides stated that the popularity of sharing pet videos and photos on social media has driven demand for more toys and accessories. In addition, organic food, beauty tools, pet medicine, and insurance are all products purchased by pet owners.
More and more people are buying houses in suburban or rural areas, where there is more space for animals to live. When employees work remotely, they can do household chores for a new puppy or take a dog for a walk.
Stacia Andersen, Executive Vice President of Sales and Customer Experience at PetSmart (a large pet chain in the United States), stated that before the pandemic sparked a wave of pet adoption, many customers had upgraded their demand for high-quality food and more decorations, such as dog collars with different shapes.
As more and more pets begin to accompany their owners on outdoor adventures, tents and life jackets designed specifically for dogs are also very popular.
Sumit Singh, CEO of Chewy (American Pet E-commerce Platform), said that the increase in sales of pet e-commerce retailers was due to the widespread purchase of supplies for new pets, such as Flat noodles and feeding bowls. At the same time, people are also purchasing more toys and snacks.
Darren MacDonald, Chief Digital and Innovation Officer of Petco (a global pet product retail giant), said that the trend of home decoration has spread to the pet category.
After buying tables and other furniture, people also updated their dog beds and key items.
Post time: Aug-14-2023
