Barking for Dollars

I had hinted at this information in a previous blog, but the new numbers from the American Pet Products Association are officially out and pet ownership is at an all time high in the United States. 72.9 million households have a pet--think about that for a minute. Most Americans have a pet.

And here's another staggering figure: spending on those pets is predicted to surpass $50 billion this year. Astounding. This makes pet retail the the eighth largest retail sector. Americans spend more money on pets than on candy, jewelery and hardware combined. Wow!

And here's an interesting factoid behind those numbers. It is not just consumers who are spending on pets; it is also large companies, both national and international, that are acquiring smaller pet product lines. Seargent, for example, has recently gotten into the flea prevention business by promoting Fiproguard Plus, made by Merial, with the same ingredients as Frontline, but sold directly to the consumer, without the vet as middleman. Check it out next time you go to buy pet food. My guess is that it will be a bit less costly than Frontline.

Price seems to be an important factor in the consumer's decision to purchase items for their pets. Frivolous purchases seem to be out. Consumers apply the same criteria to pet products as they do to people products: well made with decent price points. Sure, there will still be those "irresistible" impulse buys but, by and large, quality is going to win over quantity--not to mention products that genuinely solve a problem.

Speaking of which, I have recently invested in two new products that I am hoping stand the test of time. The first is an adjustable collar with a removable ice pack for those summer days and the second is a mesh, slightly elevated pet bed, that I hope will keep Phoebe out of the dirt, off the stone patio and comfortable out of doors.

The jury's still out since they have yet to arrive, but it is good to know that I am not alone when it comes to spending for my pets.