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The pet store sector has met explosive development. In the last 30 years, almost 85 million households have a pet, and pet ownership has risen from 56% to 68% of households, according to the American Pet Products Association. Many of the changes in animal ownership happened due to internet shopping and technologies. However, much of the increase is attributed to cultural shifts. The experts assign this change in how pets are treated for various reasons, including the reality that people live longer alone, and traditional timelines of the family are delayed. The ability of pet owners to pay huge amounts of money for premium pet goods is especially good for retailers and brands in the sector. According to a Packaged Facts study emailed to Retail Dive, the pet industry was rated last year at 90.1 billion dollars.
For aggressive success, the pet store business follows the next trends
Healthy pet food gains popularity
The consumers specifically display a lack of confidence in traditional pet foods. They want their pets to eat healthy foods, and they want to understand the list of ingredients. They choose fresh, healthy, tasty, and balanced diets for their pets. Now the offered pet food does not contain artificial colors, flavors, or preservatives; it's fitted with more natural elements. Also, now many pet stores provide their brands of pet food. For example, large online platforms as Amazon and Chewy are struggling by pushing their own products to beat out middleman margins. Several other small, niche consumer product creators are also in play.
E-commerce experience the growth
Online pet shopping market in recent years has expanded a great deal. According to Bundled Facts, 18% of U.S. retail of pet goods was on the internet. By 2023, Packed Facts forecasts that e-commerce will grow to 23% of the United States market.
The pandemic of Covid-19 also made a significant contribution to pet goods shopping online. During the end of March and the beginning of July 2020, animal food sales continued to grow. Still, there was also a considerable increase in non-consumable animal products: equipment for grooming and bathing (rose to 33%), beds and furniture (up 20%), toys (up 20%), and harnesses and leashes (up 10%).
With the continuous growth of Internet shopping, the traditional pet items purchasing in-store is still alive. Consumers now concentrate more on online commerce, but old brick and mortar stores aren't gone entirely. Some people, who shop at pet shops, search for the pet community. The pets are welcome in these stores - they are allowed to do shopping with their owners, who want to create new relationships with other pet owners in the store, get professional guidance from an associate who are experts in the field, and who want to have more customized experience of shopping.
Traditional retailers use pet store facilities to inspire customers to revisit them. The veterinary hospitals, pet medications, grooming, and boarding services have been set up in existing shops to provide customers with anything they cannot purchase online.