The Smallest Member of the Family Leads the Pack in Spending
Executive Summary & Dave Bolen Interview
This white paper shares data from APPA’s State of the Industry 2024: Strategic Insights from the National Pet Owner Survey report and explores how the pet industry continues to grow despite changes in the U.S. economy. Forecasts for pet industry performance through 2030 consider the impact of inflation and a boost in ownership during the pandemic, resulting in a normalization of the compound annual growth rate (CAGR).1
Pet care exceeds the total store average when comparing consumer spending on fast-moving consumer goods (FMCG) pre- and post-pandemic.2 Pet owners consistently prioritize their pets. Research from The Bolen Group indicates they consistently spend more on pet care goods than on their own health and beauty products. The pet category leads ahead of major categories including grocery, health & beauty care, produce, and household care.
This white paper covers three focus areas for pet businesses to consider when growing.
- Pet owner shopping convenience
- Sharing the benefits of pet ownership through partner marketing,
- Continuous product innovation
Access our beautifully designed 14-page report today to view the primary focus areas for pet businesses to consider when optimizing growth.
On Demand: Dave Bolen's Industry Outlook for 2024 from The Pet Summit
Dave Bolen of The Bolen Group presented his pet indutry outlook for 2024 at the last Pet Summit back in March. Whether you missed it or you'd like to revisit it, you can view the recording and slide deck in the APPA Store.
Oct 04, 2024
