As usual, sales were down from August. Inflation is slowing for most channels but so are sales increases. Overall, the situation is a little better but the results are mixed at the channel level.
In September, Petflation slowed to +5.7% vs 2022 but it is still 1.5 tiimes the national rate!
The 2021 binge buy was not repeated so the $ fell 7.8%, but 52% of 96 demographic segments still spent more.
Pet Food spending increased 12.5% in 2022, but 82% of the lift came from higher prices!
“Real” sales for Relevant Retail have now been positive for 3 of the last 4 months!
Petflation slowed from 8.7% in July to 6.6% in August but is still 1.8 times the National CPI of 3.7%.
In 2022, the Top 100 Retailers generated 35% of Total Retail $, 58% of Relevant Retail $ and 75% of Pet Products $.
Relevant Retail $ were up vs 2022 – both actual & “real”, but over 80% of the $ales lift came from NonStore Retailers.
Petflation slowed again but is still 2.7 times the national rate!
This segment is the most driven by high income so high inflation had little impact!