2022 Pet Products Spending was $60.63B – Where did it come from…?
A $4.29B lift from Food overcame a $1.86B drop in Supplies as 70% of demographic segments bought more Pet Products.
Author Archive for: johngibbons
Entries by John Gibbons
Retail Channel Monthly $ Update – October Final & November Advance
For the 1st time in 2023, the Relevant Retail Group is positive in all measurements vs 2022, 2021 & 2019. GREAT NEWS!
Petflation 2023 – November Update: Down to +4.3% vs 2022
In November Petflation slowed from 5.2% to 4.3% but it is still 1.4 times higher than the national rate.
2022 Total Pet Spending was $102.71B – Where did it come from…?
Big lifts in Food & Services overcame big drops in Supplies & Veterinary. Overall, spending became a little more balanced.
2022 U.S. Pet Spending by Generation – Gen X Stays on Top!
Gen X stays on top but Gen Z “gets in the game” by doubling their spending!
Retail Channel Monthly $ Update – September Final & October Advance
Inflation continues to slow and sales grew from September but the lifts vs 2022 were small.
Petflation 2023 – October Update: Down to +5.2% vs 2022
Petflation fell from 5.7% to 5.2% but it is still 1.6 times higher than the National CPI rate.
2022 U.S. TOTAL PET SPENDING $102.71B…Up ↑$2.73B
A $7.55B increase in Food & Services $ overcame a -$4.82B drop in Supplies & Veterinary so Pet $ grew $2.73B, +2.7%.
2022 U.S. VETERINARY SERVICES SPENDING $29.71B…Down ↓$2.95B
A record $7.82B lift in 2021 was followed by a -$2.95B drop in 2022, but spending is still up $4.87B (+19.6%) from 2020.
2022 U.S. PET SERVICES SPENDING $12.36B…Up ↑$3.26B
2021 had a record $2.21B increase in spending but the record didn’t last for long. In 2022 the $ were up $3.26B!