State of the Pet Industry
The U.S. pet industry is expected to reach $96 billion in sales by 2020. This growing market encompasses a variety of pet species, each taking the lead in a variety of trends. A noteworthy trend among most pet owners, regardless of type of pet they own, report that pet ownership is not influenced by the state of the economy. Here’s a look at the current state of the pet industry.
Gifts for Pets
Pet owners — particularly dog owners — are more likely to buy gifts for their pet’s birthday and Christmas than any other holiday. Eleven percent of dog owners hold holiday or birthday parties for their pet, compared to 5 percent of cat owners.
What pet owners look for in pet products:
Pet owners become aware of new pet products by:
To see the full State of the Pet Industry report, visit giftshopmag.com/special-reports.
*Source: American Pet Products Association – 2017/2018 National Pet Owners Survey