Petflation 2023 – April Update: Prices increase to +10.4% vs 2022
Petflation is back in double digits, +10.4% and twice as high as the National Rate!
Over 45 years in Consumer Products including 31+ years in the Pet Industry developing and executing successful strategic sales and marketing plans for manufacturers.
Petflation is back in double digits, +10.4% and twice as high as the National Rate!
Spectacular sales growth but inflation was a major factor!
Inflation is slowing but the increase in Retail $ slowed even more producing a widespread drop in “real” sales!
After 7 months at 10+%, Petflation is down to 9.4%, but it is 88% higher than the National CPI rate!
Sales are down from January but still a record for the month. Plus, there are other signs that the impact of inflation may also be slowing!
Overall, Inflation is slowing… but not in the Pet Industry!
Total Pet Spending is a sum of the segments. Compare their demographic performance side by side to find the similarities and differences.
If you do nothing else at GPE 23, you can spend 1 minute and 18 seconds with each exhibitor. You definitely need a plan!
Sales continue to grow vs 1 year ago. However, the amount of product sold for the Relative Retail Group has now been less for 11 straight months.
With GPE 2023, Pet Trade Shows are finally returning to “normal”!