Retail Channel $ Update – April Monthly & May Advance
May clearly shows the impact of strong current (Gasoline) or just high cumulative inflation.
Over 45 years in Consumer Products including 31+ years in the Pet Industry developing and executing successful strategic sales and marketing plans for manufacturers.
May clearly shows the impact of strong current (Gasoline) or just high cumulative inflation.
Mar>May Petflation fell from 4.3% to 3.2%, but May prices are only 0.2% below the March record high.
This should make it easier to see the spending similarities & differences between Pet Industry Segments.
2024 Vet spending is 7.3 times more than 1997, but 84.5% of the growth was from inflation.
Inflation rose in April & 6 of 11 channels had a below avg lift or drop vs 25, only 4 in March.
Prices in all Pet Segments are either at or within 0.3% of a record high!
Less balance and even more driven by income. The 50/50 spending dividing line is now $156K.
March was a strong month for Relevant Retail but not so good for other Big Groups.
The 2024 spending lift was small, +$0.89B but a little more balanced, especially Racially/Ethnically, where all groups spent more.
In March, the CPI, Total Pet and all Pet Segments reached record high prices!
