2019 has come to an end, it’s time now to look ahead to the new pet industry trends and opportunities that will be brought by the new year. Since 1994, American pet spending has continued to rise every single year – even during the 2007-2009 recession – reaching an estimated $72.13 billion in 2018 and is now projected to hit almost $100 billion by the end of the decade. which is, well... now. This continued increase in industry growth means an increase in opportunity for your pet business to grow as well. It also means lot more new innovation and more competition to keep customers happy and shopping with you all year long.
In the busy world of pet retail it can sometimes be a challenge to decide where to allocate your attention. You see, as a small business owner there is one resource that is the most precious of all. Time. In some case there’s only one of you—but even if you have a small staff to help you support your business, there is a big world out there and a local pet market you want to conquer. The list of tasks can sometimes seem insurmountable. You’ve got the daily maintenance of your business, the big projects you’re working towards, the moonshots you’re dreaming of, the technology and trends to keep on top of and a million and one other odd jobs on top of that. But the more you reach for, the sooner you’ll realize that you simply just can’t do it all on your own, and there is no shame in that.
Within the past few years, there has been a major shift in the pet industry towards more sustainable practices. With the fast growing concern for our planet’s welfare, many companies within the pet industry (and beyond) are taking a long hard look at their personal effect on the environment and are beginning to change how they do business. Not only that, but as consumers become more aware of their impact on the planet they are seeking out sustainable brands and products more than ever before. As a retailer, you play a huge role in helping promote sustainability to this growing number of concerned consumers. Today on Earth Day it is the perfect time for you to begin taking steps towards the sustainable future consumers want.
This year's Global Pet Expo marked its 15th year and was the biggest event to date. In fact, with just over 352,300 square feet of exhibiting space,1173 manufacturer booths, 1000 new products, and over 30-plus hours of free educational seminars it has just about everything you need to learn and grow your pet retail business. We did the math, and with a total of 29 hours of showtime and approximately 1173 booths to explore that would give the average person roughly 1 minute and 28 seconds respectively at each booth. That is with no breaks at all. No lunch, no sitting, just one booth to the next. It's almost hard to comprehend!
If you’re a pet retailer, you know how confusing the world of pet food can be for your customers. Should they buy canned food, dry food, or fresh food? What about grain-free foods? Should they go raw? The list goes on. You have to keep your finger on the pulse of new pet trends so you can stay ahead of the curve and be the “go to” source for your customers. In the ever-expanding area of pet food, it’s never been more important. According to industry publication, PetFood Industry, we’ll continue to see the humanization of pet food in the coming year. Probiotics, PCR, and preventive foods are just some of the crossover trends that have gone from the human market to the pet market.
Despite what some may think, sustainability can be much more than recycling and reducing your carbon footprint. In the pet industry, sustainability concerns play a major role in the production of many of our favorite brands. Research has found that cats and dogs make up 25 to 30 percent of the environmental impact of meat consumption in the United States each year. With this in mind, more and more members of the pet industry are making the effort to move towards more sustainable practices to protect and ensure the future of our planet.