Petflation 2024 – April Update: Drops to +1.7% vs 2023
At 1.7%, Petflation is now 50% below the CPI. In January, it was +52% but prices are still 26% higher than in 2019!
Over 45 years in Consumer Products including 31+ years in the Pet Industry developing and executing successful strategic sales and marketing plans for manufacturers.
At 1.7%, Petflation is now 50% below the CPI. In January, it was +52% but prices are still 26% higher than in 2019!
Internet sales are 35 times more than 1992 and now have the biggest share of Relevant Retail $!
As expected, sales grew in March but the lift was far below average. The recovery is definitely slowing!
March Total Petflation rose to 3.8% from 3.5% in February but YTD it slowed to 4.0% from 4.1%.
Retail has largely recovered from the Pandemic, but the price surge recovery is still ongoing.
With only the 2nd Jan>Feb sales lift in 30 years, Total Retail continues its slow recovery!
The National YOY CPI rose from 3.1% to 3.2% but Total Petflation fell from 4.7% in January to 3.5% in February.
Total Pet Spending is a sum of the segments. Compare their demographic performance side by side to find the similarities and differences.
With only 1 minute and 10 seconds to spend with each exhibitor, you need a plan!
Sales fell from December for every channel and all increases vs 2023 except for Health/Drug stores were well below their 19>24 average.
