U.S. Pet Market Outlook 2010-2011: Tapping into Post-Recession Pet Parent Spending
As the U.S. economy moves out of recession and into recovery, the purse strings of many pet parents will loosen—but shoppers will continue to demand greater value in the pet products and services they purchase as well as from the channels they shop. U.S. Pet Market Outlook 2010-2011 provides essential insights into the U.S. pet market overall as well as each of its four core categories—veterinary services, pet food, non-food pet supplies, and other pet services (grooming, boarding, training, etc.)—while predicting sales to rise from $53 billion in 2009 to over $70 billion in 2014, with strong demand for products and services that both enhance pet health and pamper lifting many boats. ( http://www.bharatbook.com/
Continuing the market tracking and forecasting of the previous edition annual report (see U.S. Pet Market Outlook 2009-2010: Surviving and Thriving in Challenging Economic ), the 2010-2011 edition projects sales, market growth drivers, and competitive opportunities. In a new focus discussion, it details retail channel trends including the increasingly aggressive competitive differentiation between pet specialty and mass-market suppliers and retailers, cross-channel shopping, shopper loyalty, and the growing role of non-traditional channels including Internet.
Additional chapters include an overview of factors underpinning the market’s ongoing strong prospects, including a human/animal bond that is possibly stronger than ever as a result of the recession; analysis of the competitive situation including opportunities for cross-pollination across product and service segments; and consumer demographic and mindset trends representing changes, challenges and calls to action in meeting the needs of today’s more demanding pet parent population. Other trends examined include “bang for the buck” value appeals balancing price, function and indulgence; “ethical” (organic/natural, sustainable, humane, etc.) appeals and cause marketing; key marketing trends, such as the shift toward non-traditional media including social networking; and recent and possible acquisitions and spin-offs.
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