Petflation 2024 – June Update: Increases to +2.0% vs 2023
The CPI drops from 3.3% to 3.0% but Petflation rises from 1.6% to 2.0%!
Author Archive for: johngibbons
Entries by John Gibbons
U.S. Pet Services Spending (Non-Vet) $12.77B (↑$1.90B): 2023 Mid-Year Update
After increasing by 66% in 18 months, Services spending growth slowed to 3.3% in the 1st half of 2023.
U.S. PET SUPPLIES SPENDING $23.59B (↓$0.79B): MID-YR 2023 UPDATE
The Pet Supplies spending rollercoaster continues.
Retail Channel $ Update – April Monthly & May Advance
May was much better than April but the YOY monthly sales increases are still far below average.
Petflation 2024 – May Update: Slows to +1.6% vs 2023
Petflation slows as the Product segments deflate while prices in the Service segments reach record highs.
U.S. PET FOOD SPENDING $40.86B (↑$4.51B): MID-YEAR 2023 UPDATE
A strong 12.4% lift in $, but considering 14.1% inflation, it was really a -1.7% drop!
Retail Channel $ Update – March Monthly & April Advance
Inflation is slowing and prices are deflating in 7 channels. However, it’s cumulative impact is still there with a reduction in YOY growth!
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!
The Retail Market – Evolution 1992 > 2023
Internet sales are 35 times more than 1992 and now have the biggest share of Relevant Retail $!
Retail Channel $ Update – February Monthly & March Advance
As expected, sales grew in March but the lift was far below average. The recovery is definitely slowing!