The $41 Billion Pet merchandise Niche3
The term “a dog’s life” wont to describe a reasonably rustic existence for the family pet… Fido slept on the rear construction, had Associate in Nursing occasional tub within the back yard child pool and for a treat, chewed on a hide bone.
Today but, a dog’s life usually suggests that being toted around in at $400 dog carrier, sleeping in a very $1000 dog house, and sporting a collar embedded with Swarovski crystals. affirmative times have modified and of late dogs, cats, birds, and also the like live the high life. In 2007, Americans spent a record $41 billion bucks on their beloved pets! All across the world, pet homeowners have become progressively strict once it involves pet product and not sinking for cheap, substandard product. These days, solely the most effective in pet product can do and this disclose tremendous chance for anyone World Health Organization is inquisitive about mercantilism within the pet product niche.
Fueling this growing trend within the pet product business square measure empty nesters World Health Organization lavish attention and cash on their pets, baby boomers with income and young adults World Health Organization square measure waiting till later to own youngsters and instead square measure swing their time and energy into Fido and downlike.
Even families of smaller suggests that square measure pin money on a menagerie of pets. Families see their pets as a member of the family and square measure willing to pay big bucks on them. to boot, the influence of standard tv shows like Animal Planet, have created the family pet additional revered than ever.
These five distinct trends drive the marketplace for pet product sales:
- Luxury pet product. the luxurious pet product business has seen the foremost growth in recent years and continues to guide the pack once it involves the sale of pet merchandise. shoppers need the most effective for his or her pets and that they square measure willing to dish out megabucks to induce the product they need. people that obtain luxury pet product square measure typically additional affluent. They conjointly tend to shop for a whole ensemble of pet accessories. The pet sweater should match the pet carrier and also the fairly often, that has got to match what the owner is sporting also. however it’s not solely wear things that square measure on each pet homeowners searching list – There square measure currently $430 indoor potties, $30-an-ounce fragrance, climate controlled pet carriers, bejewelled pet collars (with real jewels), $225 trench coats, designer pet beds, dog shoes, Allhallows Eve costumes, Zen feeding tables, dog spas, even pooch nail polish!
- Traveling pets. Have pets can travel is that the mantra of the many pet homeowners. to try and do this in comfort and elegance needs the correct quite product and accessories. Climate controlled pet carriers; pet booster seats and pet strollers alter that traveling pet to ride a la mode.
- Eco-friendly pets. Eco-friendly and organic product are an enormous influence on pet product sales within the past couple years. This trend is constant, actually the biggest growth sector in many pet product classes has been that of eco-friendly and organic product. If you sell pet product you need to provide your patrons some eco-friendly versions of standard pet product.
- Exotic pets. whereas dogs and cats square measure definitely the foremost standard pets, we’re conjointly seeing a trend towards possession of additional exotic pets. these days there’s a requirement for product for birds, reptiles, fish, ferrets, mice, rats, hamsters, gerbils, pot belly pigs, rabbits, chinchillas, aquatic turtles and additional.
- Fashion pets. Today’s pets square measure therefore well dressed with coordinating accessories that they may simply grace the quilt of Pet Vogue magazine. Pet owner fashionistas square measure snapping up designer vogue pet product at a passionate pace. Pink-a-holic pet? there is a slew of hot pink fashion pet product out there. additional into the preppy look? Outfit your pet and his product therefore he appearance straight out of the Ivy League. Is Bowser a rock- and-roll dog? He’ll look and act the dispense with today’s pet fashion product. Pets and fashion have united in a very massive way!
There are actually many classes of pet product. the subsequent five umbrella classes provide loads of chance to drill down and appearance for sub-niches and micro-niches.
- Pet Transportation. Pets square measure on the go! And pet strollers, pet carriers and pet booster seats, all facilitate your pet get there safely, soundly and a la mode. A recent pet lover’s journal featured sixteen reasons your pet wants a pet stroller! Pet ramps and stairs facilitate older pets stay comfy within the event of health problems. Liners and barriers for cars facilitate to stay your automobile clean and recent (and your pet safe) whereas he rides round the city.
- Pet Housing and residential interior decoration. A pet’s house is his castle and one among the most effective mercantilism pet product classes is that of pet homes, beds, kitty condos, pet couches, chairs, pillows and also the like! Blankets, bowls and feeders all spherical out the house interior decoration wants of a cheerful and well-nested pet.
- Pet wear and Accessories. the probabilities square measure endless within the pet accent market! Dog toys, grooming accessories, pet shoes, pet eye ware, pet safety product, grooming product, art work, pet exercisers, pet treadmills, pet games, and pet jewellery square measure simply alittle sampling of the product that square measure being snapped up by today’s pet owner.
- Pet Health. Pet homeowners square measure terribly involved concerning their pet’s health and also the sale of pet health product square measure on the increase. From pet treadmills to grooming product, lotions and potions, to shampoos and biological process supplements, folks square measure paying the maximum amount attention to their pet’s health as they’re their own.
- Pet product for humans. a regular attribute of pet homeowners is that they not solely wish to purchase product for his or her pets, they conjointly wish to purchase product for themselves that represent their pets. contemplate the thirty eight year recent Chicago government World Health Organization owns 2 Golden Retrievers. Her house is full of items of design, figurines, t-shirts, books and jewellery all representing the retriever breed. Pet lovers World Health Organization cannot own pets thanks to allergies or logistic reasons however still need to feel connected with a pet are shopping for these varieties of pet product in droves.