Whereas many sectors have been clobbered through the COVID-19 pandemic, the U.S. pet trade had an excellent 12 months, with gross sales development of 9% driving complete pet trade gross sales to $107 billion, in keeping with the brand new report Pet Market Outlook, 2021-2022 by Packaged Details, a number one market analysis agency and division of MarketResearch.com.
Caught at residence with restricted leisure and few social retailers, many American shoppers coped by acquiring new pets during the pandemic. In 2020, the variety of pet canine rose to 96 million (up over 10 million from 2019) and the variety of pet cats elevated to 32 million (up over 2 million).
The surge in pet purchases and adoptions was excellent news for the pet trade, however one other main development story was e-commerce. Packaged Details’ February 2021 survey exhibits that 40% of pet product consumers report procuring on-line extra for pet merchandise due to COVID-19 impacts.
Going ahead, pet corporations might want to modify their gross sales and advertising and marketing methods, as a result of the shift to on-line procuring isn’t anticipated to be a brief blip.
“COVID-19 is finest understood as having fast-forwarded the trade into the longer term,” Pet Market Outlook, 2021-2022 states. “This reset of the U.S. pet trade is more likely to characterize a everlasting remix of bodily and digital procuring behaviors.”
In line with Packaged Details’ analysis:
- The Web now accounts for 30% of all pet product gross sales, up from 8% in 2015.
- Half of pet product spending will happen exterior of shops by mid-decade.
- By way of market share, Amazon leads with practically half (46%) of pet product e-commerce greenback gross sales, adopted by Chewy with a 35% share.
The rising function of e-commerce is not going to solely influence gross sales income and market share, however it’ll additionally affect “shopper mindshare” and the place folks get their details about pet merchandise and pet care.
Pet E-Commerce Market Analysis
For extra in-depth knowledge, obtain a newly launched white paper by Packaged Details titled Pet Product E-Commerce and Channel Trends in the Wake of COVID-19. This free white paper covers the remix of channel procuring selections, e-commerce gross sales leaders, and prime pet product sorts bought on-line.
About Packaged Details
Packaged Details, a division of MarketResearch.com, publishes market intelligence on a variety of shopper market matters, together with shopper demographics and shopper insights, shopper monetary services, shopper items and retailing, and pet services. Packaged Details additionally provides a full vary of customized analysis providers. Experiences may be bought at our firm web site and are additionally out there by way of MarketResearch.com.