| During the current macroeconomic environment the much touted recession resistance of the pet industry is being put to the test like never before—and appearing to hold up as of March 2009. Whereas total U.S. retail sales rose just 1.4% overall in 2008 according to the National Retail Federation, No. 1 pet specialty retailer PetSmart posted an 8.4% sales increase in fiscal year 2008; top five pet food marketers Del Monte and Hill’s recently reported double-digit growth, with Del Monte’s pet product net sales up 15.1% during the third quarter of fiscal year 2009 (ending May 3), and Hill’s revenues up 13.5% in fourth-quarter calendar 2008; leading veterinary hospital operator VCA Antech posted 6.7% revenues growth during fourth-quarter 2008; and online merchant PetMed Express reported a 16% increase in net sales during the fourth-quarter 2008. Looking at the pet industry as a whole, Packaged Facts predicts overall steady performance in 2009 and 2010, although the market growth rate will drop back slightly due to cutbacks in some of the more discretionary categories.
Featuring February 2009 pet owner survey data polling 2,600 U.S. adults, this all-new Packaged Facts trend report will bring you up to the minute with regard to the four core market categories—veterinary services, pet food, non-food pet supplies, and other pet services (grooming, boarding, training, etc.)—projecting sales and analyzing key growth drivers and competitive opportunities for each. The report is divided into five chapters, beginning with an Overview examining why the pet industry has been performing better than other industries of comparable size and maturity, and what marketers, retailers and product developers can do to help keep their own market momentum going. Four additional chapters examine ongoing and emerging trends in four focus areas—Humanization, Health and Wellness, Competition, and Demographics—covering such topics as the multifaceted notion of value during the recession; impact of the human/animal bond on consumer expenditures; adaptation of human brands, drugs and service types; natural, organic and green products; functional products including pet medications and supplements; impact of the fast-growth pet insurance industry; effect of big-box expansion and franchising in the pet services field; the rise of celebrity marketing, non-traditional media, and cause marketing; and pet ownership trends in key consumer segments including premium demographics, aging Baby Boomers and PONKS (Pet Owners/No Kids).
About the Author
David Lummis is the senior pet market analyst for Packaged Facts. He is also author of the monthly
"Market Outlook" column in Pet Product News International, and a regular contributor of articles and market
insight to other pet industry magazines as well as major business media including The New York Times
and CNNMoney. Mr. Lummis also is President of New Orleans-based Marigny Research Group, Inc., a
producer of custom market research reports for Packaged Facts. Since 1986, MRG has prepared more
than 175 studies on consumer packaged goods markets and developed full report lines covering pet,
demographic, retail and financial markets. Mr. Lummis, who graduated from Yale University, has
also written approximately 75 other published B2B reports and is the author of the book, "Value
Retailing in the 1990s."
|
0 items
