Pet Products Represent Revenue Opportunities for Grocery Chains and Retailers

APPA Home / Events & News / Blog Post
November 20, 2023
Dog Treats Displayed on a Supermarket Shelf

 

n the current economic climate, consumers are more discerning than ever when it comes to where they spend their money and what they spend it on. Despite increasing economic pressure, 39% of pet owners spent more on their pets than in previous years.

While households are looking to save on their weekly grocery bills, they are actually spending more on one member of the household than any other: their pets. Pet care is performing ahead of essential household goods like grocery, bakery, produce, and even baby and personal care when it comes to fast-moving consumer goods (FMCG).2 Through expanding pet care product offerings in-store and online, grocery retailers have a significant opportunity to increase average order value. 

Which Pet Products Should Grocery Retailers Stock?

Pet products and food account for the largest portion of pet owner spending, at 58% of their pet-related budget.3 By offering new and trending pet products on supermarket shelves, grocers can capture the attention of target consumers and potentially divert their pet-related purchases to their stores. The best way to discern which pet products grocers should order is to attend the next Global Pet Expo, where the New Product Showcase highlights the latest innovations in pet products. Qualified buyers can attend the Global Pet Expo for free by registering now

Registration is Open for Global Pet Expo 2024

 

Where are Pet Owners Shopping?

APPA Strategic Insights for the Pet Industry Report

Although an increase in online purchases remains strong following COVID, 38% of pet owners shop for pet products in a brick-and-mortar store.4 This represents an opportunity to capture more potential revenue from the customers who are already shopping in-store. To maximize potential earnings, grocery buyers should keep pet-related products in stock in grocery stores so that shoppers can browse in-store, purchase in-store, and also take advantage of post-COVID conveniences like 3rd party delivery services.   

Looking for more insights like these to help scale your business? Access APPA’s new report,  Strategic Insights for the Pet Industry: Pet Owners 2023 & Beyond for economic insights, pet owner behavior, and pet ownership trends.

Sources

  1. American Pet Products Association. (publication). Strategic Insights for the Pet Industry: Pet Owners 2023 & Beyond (pp. 25).

  2. American Pet Products Association. (publication). Strategic Insights for the Pet Industry: Pet Owners 2023 & Beyond (pp. 22).

  3. American Pet Products Association. (publication). Strategic Insights for the Pet Industry: Pet Owners 2023 & Beyond (pp. 27).   

  4. American Pet Products Association. (publication). Strategic Insights for the Pet Industry: Pet Owners 2023 & Beyond (pp. 32–34).