2019 Pet Services Spending was $8.62B – Where did it come from…?
A mixed result, but Services essentially held their ground at the new elevated $pending level.
Over 45 years in Consumer Products including 31+ years in the Pet Industry developing and executing successful strategic sales and marketing plans for manufacturers.
A mixed result, but Services essentially held their ground at the new elevated $pending level.
97% of demographic segments spent less leading to a record drop in $ – all due to tariffs!
A strong rebound from the impact of the FDA grain free warning, but Pet Food spending became a little less demographically balanced.
Pet Food $ rebounded but couldn’t overcome a record drop in Supplies due to Tarifflation!
December Retail $ grew to a record $620B, pushing Total Retail Sales up +$40B YTD vs 2019.
2019 was a bad year for lower income minorities, Hispanics and especially African Americans.
On the surface, Total Pet Spending was flat and more stable than 2018 but still moving towards higher incomes.
Total Retail $ fell vs October but continued to grow YTD vs 2019 due to the Relevant Retail Group.
The younger groups spent more on their Pets, but not enough to overcome decreases by older Americans.
In October YTD Total Retail $ exceeded 2019 for the first time since February!