NumeratorTRENDSREPORTPawPower:Pet Purchasing Trends
NNumeratorPETPURCHASINGAboutthe ReportNUMERATOR'SPAWPOWER:PETPURCHASINGTRENDSreportbreaks,down the continued growth of thepetindustry ina post-COVIDworld andshares inspiration on how brands and retailerscanmaintain that growth.UsingNumerator'sTotalCommercepanelofover150koanelists across bothdigital and physical collection methods, we analyzed purchasing and atitudinal behaviors among the fllowing groupingsPatFood&TreatsPetSuboliesAll analyses was conducted looking at latest 12 months ending 8/31/2024unless otherwise noted.Source:Numerator
NNumeratorPet sales have grown strong for several years butis slowing.ProjectedSales% Change vs YA|Rolling 12 Months Ending8/31/2024.Grocery.Home&Garden.Electronics-Pet25%20%11%10%8%-15%2021202220232024
NNumeratorHouseholds continue to enter the pet sectorbut consumers are becoming choicefulin what they buy,PETSECTORSALESDECOMPOSITIONLatest12MonthsEnding08/31/2024vsYearAad+5.0%*From1996-2024, thedogpopulation,ProiectedSaleshas steadily increased,from 52.9milliontoanewpeokof89.7millon"AmericanVeterinary MedicalAssciation+1.1pp+3.9%Household PenetrationBuyRateDrivenbymixoverinflationbly'sCPlforPetProducts:+3.3%6+0.6%+0.8%1PurchaseFrequencySnendberTrip-2.1%+2.7%Units perTripSpendper UnitSource:Numerator|'BLSCPI
Fourkey trends impacting the pet sector公dPETSANDPRICETAGSWELLNESSUNLEASHEDPAWINGTHROUGHTHEAISLESGENZ(OOMIES)PetownershipisbecomingmorePetparentsarepamperingtheirGeneralretaiersarethrivingaspetAsGenZstepsintotheirspendingchallengingasreturn-to-officfuryfriends divinggrowth inheath,specialtystoreslosesharetogiantspower,theyrereshapingthepet,andand wellness products. Despite costlike AmazonandWalmart,.AmazonmarketinuniquewaysWhilepressuresinthepetsector,manystandsoutbywinningshopperswithbudget-conscious, thisgenerationownersprioritizehigh-quality toysprice,convenience,cravesexperiences-andnothingaddress thesepressures,offeringand wellnessgoodsfortheirpets.and promotions.drawstheminquitelikeastorewithconstrainedpetparentswhere theirpets canjointhe fun.Brands tappingintohumanhealthSpecialtypetretaiersfacemountingtrends,likeguthealth,havefoundchallengesasmassretalersande-FormanyGenZpetowners, urbanind treats arewithBoomersleadingtheinginmulti-unitwithaffordabilitpetitive,they museancatsoftentakeAtthesametimerefinepromotionalstrateciesandsectorisexpandirfosterloyalty amongnewpetifestyle and values, brandshaveagrowingattentihealthandchancetowintheloyaltyofthesenext-genpetparents.LEARNTHESTORYLEARNTHESTORYLEARNTHESTORYLEARNTHESTORYSource:Numerator
NumeratorPAWPOWFRPETPURCHASINGTRENDOPets andPriceTags
NNumeratorWhile growth continues, headwinds can be expected as acycleof ownershipisexpected to hit a slowdown.NYCanimal sheltersareAmericans adopted millions of dogs during theovercrowded with dogs, and fewpandemic.Now what do we do with them?people are adopting themWashingtonPost,2022Gothamist.2024PetcoCitesConsumerSpendingPressures,Cuts2023Guidance,Kiplinger,2023RetailersPetSmart,PetcoFeelPinch ofWeakerPetSpendingBloomberg,2023
NNumeratorA weaker 2025 for pet ownership could be anticipatedespecially among lowerincome households....
