Table of Contents
Executive Summary
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- The issues
- Sales of pets are flat, despite growing share in ownership
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- Figure 1: Sales of pets and forecast, at current prices, 2010-20
- Pets aren’t always a walk in the park
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- Figure 2: Challenges of pet ownership, February 2015
- The opportunities
- Treat pets like humans
- Target parents, childless couples
- Play up the benefits of owning a pet
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- Figure 3: Benefits of pet ownership, February 2015
- Let them eat cake… with their pets
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- Figure 4: Pets in public/pet owners’ involvement with their pets, February 2015
- Research, recommend, repeat
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- Figure 5: Trusted sources of pet advice, February 2015
- Help owners pamper their pets, make life more convenient
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- Figure 6: Use of and interest in pet services, February 2015
- What it means
The Market – What You Need To Know
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- Spending on pets to continue current growth trajectory through 2020
- Pet food, veterinary services account for majority of spending
- Demographic shifts impact the market
- Humanization of pets continues to open up market opportunities
Market Size and Forecast
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- Expenditures on pets expected to grow by $10.3 billion through 2020
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- Figure 7: Total US expenditures and fan chart forecast on pets* at current prices 2010-20
- Figure 8: Total US expenditures and forecast on pets* at current prices 2010-20
Market Breakdown
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- Pet owners spend the most on pet food, vet visits
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- Figure 9: Total US expenditures and forecast on pets*, by segment, at current prices, 2010-20
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- Figure 10: Total US expenditures on pets*, by segment, at current prices, 2013 versus 2015
Market Factors
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- Humanization of pets
- Childless couples, unmarried Americans on the rise
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- Figure 11: Share of households by number of persons per household, 1960-2013
- America’s aging population
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- Figure 12: Americans aged 65+, total population and share of population, 2015-60
- America’s pets also aging
Key Players – What You Need To Know
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- Pet retailers work to differentiate themselves
- By humanizing pets, companies appeal to owners
- Pet owners seek out convenient, premium services
- Vet loyalty programs encourage repeat visits, adherence to medical advice
Leading Retailers
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- Petco
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- Figure 13: Petco company overview
- Competitive analysis
- PetSmart
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- Figure 14: PetSmart company overview
- Competitive Analysis
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- Figure 15: PetSmart, “Pet Expressions: Creative Dog Grooming from PetSmart,” Apr. 7, 2014
What’s Working?
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- Pet ads treat pets like humans
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- Figure 16: Big Lots, “Big Lots Pet Supplies - Pets with Opinions #PetsRPeople2,” Sept. 8, 2014
- Premium services fetch top dollar
- Services for humans go to the dogs
- With pet subscription boxes, every dog has its day
What’s Facing Challenges?
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- Fewer turning to breeders, pet stores
- Veterinarians struggle with patient compliance
What’s Next?
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- Petnology on the rise
- Pet fitness devices
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- Figure 17: Whistle, “The Whistle Activity Monitor,” June 15, 2013
- Pet connection devices
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- Figure 18: Petcube, “Petcube Camera: Stay connected to your pets when you are not at home,” Nov. 18, 2014
- Figure 19: Petzi, “Petzi Treat Cam,” June 10, 2015
- No longer sicker than a dog: Rewards programs build vet loyalty
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- Figure 20: Rethink Veterinary Solutions, “Rethink Veterinary Solutions Testimonials,” Nov. 6, 2013
- Here, boy! Pet services make house calls
The Consumer – What You Need To Know
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- Americans are dedicated to their pets
- Pet owners are particularly interested in health, tech services
- Pets make great companions, but they also cause owners stress
- Owners consider pets part of the family and treat them accordingly
Pet Ownership
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- Americans go wild for furry friends
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- Figure 21: Types of pets owned by household, February 2015
- Pet parents are often parents of children too
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- Figure 22: Presence of dogs and cats in households, by age and presence of children in the household, February 2015
Pet Acquisition
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- To buy or not to buy?
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- Figure 23: Sources of pet acquisition, by type of pet owned, February 2015
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- Figure 24: Sources of dog acquisition, by size of dog owned, February 2015
- How much is that doggie in the window? Pet purchasing behaviors by demographics
- The pet owners’ theory of mutual selection
Caring For and Spending Time with Pets
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- Multiple hours spent with pets each day
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- Figure 25: Distribution of hours spent with pet(s) each day, February 2015
- Who spends the most time with pets
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- Figure 26: Mean number of hours spent with pet each day, by gender, February 2015
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- Figure 27: Mean number of hours spent with pet each day, by gender, age, and type of pet owned, February 2015
- The hand that feeds
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- Figure 28: Who takes responsibility for caring for pets, by gender and parental status by gender, February 2015
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- Figure 29: Share of kids who live in households with pet/who help care for their pet, Fall 2008-14
Benefits of Pet Ownership
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- All in good company: Pet owners enjoy animal companionship
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- Figure 30: Benefits of pet ownership, by type of pet owned, February 2015
Challenges of Pet Ownership
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- Cleaning, medical care, pet sitters lead to pet stress
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- Figure 31: Challenges of pet ownership, by type of pet owned, February 2015
- Pet owners seek reassurance
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- Figure 32: Questions pet owners would ask their pets, March 2015
- Figure 33: Feelings of guilt and anxiety experienced by pet owners, February 2015
Pet Etiquette and Pets in Public
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- Pet owners, pets expected to practice proper ‘petiquette’
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- Figure 34: Attitudes toward pet etiquette/pets in the public space, February 2015
Seeking Advice and Recommendations
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- It takes a village to raise a pet
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- Figure 35: Trusted sources of pet advice, February 2015
Pet Services – Use and Interest
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- Pet owners see value in health-related services
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- Figure 36: Use of and interest in pet services, February 2015
- Dog owners use more services
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- Figure 37: Interest in pet services, by type of pet owned, February 2015
The Pet–Owner Relationship
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- Modern pet parenthood
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- Figure 38: Attitudes toward the pet-owner relationship, February 2015
- Other types of pet–owner relationships
- Pet grandparents
- Pet friends
- Traditional pet owners
- Oh the humanity! Anthropomorphizing pets impacts interactions
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- Figure 39: Pet owners’ permissiveness and involvement with their pets, February 2015
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Fan chart forecast
- Consumer survey data
- Consumer qualitative research
- Abbreviations and terms
- Abbreviations
Appendix – The Market
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- Overall market – inflation-adjusted prices
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- Figure 40: Total US expenditures and forecast on pets, at inflation-adjusted prices, 2010-20
- Segment overview – current prices
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- Figure 41: Total US expenditures and forecast on pets by segment, at current prices, 2010-20
- Segments – current prices
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- Figure 42: Total US retail sales and forecast of pet food, at current prices, 2010-20
- Figure 43: Total US retail sales and forecast of pet supplies, at current prices, 2010-20
- Figure 44: Total US expenditures and forecast for veterinary services, at current prices, 2010-20
- Figure 45: Total US expenditures and forecast for pet services, at current prices, 2010-20
- Figure 46: Total US expenditures and forecast for purchases of live pets, at current prices, 2010-20
- Segments – inflation-adjusted prices
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- Figure 47: Total US retail sales and forecast of pet food, at inflation-adjusted prices, 2010-20
- Figure 48: Total US retail sales and forecast of pet supplies, at inflation-adjusted prices, 2010-20
- Figure 49: Total US expenditures and forecast for veterinary services, at inflation-adjusted prices, 2010-20
- Figure 50: Total US expenditures and forecast for pet services, at inflation-adjusted prices, 2010-20
- Figure 51: Total US expenditures and forecast for purchases of live pets, at inflation-adjusted prices, 2010-20
Appendix – Additional Consumer Tables
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- Figure 52: Share of kids who live in households with pets, Fall 2008-14
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- Figure 53: Share of kids with pets who help take care of a pet, Fall 2008-14
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Appendix – Qualitative Research
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- General quotes
- Pet diary entries (written from the pet’s point of view)
- Pet Facebook profiles (written from the pet’s point of view)
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