What's New? A Quick Peek into APPA's New NPOS Insights
By Anne Sandoval
In Q4 2023, APPA released an innovative new report for APPA members and pet industry stakeholders. The new Strategic Insights for the Pet Industry: Pet Owners 2023 & Beyond report provides insights that interpret the industry’s premier source of pet owner trend data, the National Pet Owners Survey (NPOS).
The evolution from the legacy print and e-book format of the NPOS findings to the insights-forward, visually dynamic presentation enables pet industry leaders to more easily access meaningful data to inform their business strategies.
Strategic Insights for the Pet Industry: Pet Owners 2023 & Beyond ensures that APPA members and pet industry stakeholders won’t need to invest in data scientists to interpret the NPOS research. Instead, the new report is accessible and digestible, so business leaders can implement tactics to capitalize on pet owner trends and revenue opportunities.
The new report, which readers can preview now, covers important themes for pet industry leaders and stakeholders:
The pet industry is strong and data shows that it will continue to be strong
There are emergent generational differences in consumer preferences
There are post-COVID pivots that seem to be long-lasting
These insights will help businesses navigate their strategies in 2024 and beyond to capitalize on pet owner trends and economic forecasts.
How to Read the New NPOS Strategic Insights
The new Strategic Insights for the Pet Industry: Pet Owners 2023 & Beyond report features key details to enhance pet industry professionals’ understanding of the NPOS data. These helpful notations throughout the report illuminate important insights regarding statistical significance, generational trends, and more. Let’s take a closer look.
Group Names: Many of the insights provided in the Strategic Insights for the Pet Industry: Pet Owners 2023 & Beyond report compare responses from various groups, so group names are used to identify which cohorts of the survey respondents we are analyzing. One example of commonly used group names in the report are generational identifiers, such as Gen Z (Z), Millennial (M), Gen X (X), and Boomers (B).
Statistical Significance: Letters or asterisks after numbers in the chart indicate statistically significant differences in the data being reported. Typically, statistically significant numbers will also appear in bold font.
Tiers: When consuming data-rich reports, implementing tiers can be helpful for increasing comprehension. The new APPA report helps break long lists of attributes or responses into tiers, so viewers can more efficiently interpret the charts. In the example above, tiers 1, 2, and 3 group personal statements into three categories based on agreement.
Insight: Each of the 135 visually engaging slides in Strategic Insights for the Pet Industry: Pet Owners 2023 & Beyond features an Insight at the top. This headline provides the main message or story that the data tells, which provides pet industry professionals and stakeholders with essential nuggets of value to inform their business decisions.
Chart Title: Each chart in the report includes a description of the data, along with the analysis year, which references the year the source data was collected via the National Pet Owners Survey.
Footnotes: Footnotes are provided below each chart to provide context or additional details that may be helpful in sharing the insights provided. These footnotes may include survey questions, statistical testing specifics, or base sizes of the source data.
Access APPA Strategic Insights for the Pet Industry: Pet Owners 2023 & Beyond
The new format of the National Pet Owners Survey report represents insights innovation and the association’s understanding of APPA members’ emerging needs. Strategic Insights for the Pet Industry: Pet Owners 2023 & Beyond uses the same trusted NPOS source data, yet transforms it into turnkey presentation slides and actionable insights that executives can use, apply, and share with ease.
As Chief Revenue Officer Steve Clark, of Petmate shared, “The latest Strategic Insights presentation from APPA is outstanding! It is a great collection of industry data points and specific research findings. The easy-to-follow format made it quick to identify opportunity areas for our business. Through the insights we have gained, we have been able to validate and develop both promotional and product opportunities that we can put into action immediately! Thank you, APPA, for this value-added benefit to our membership!”
The Strategic Insights for the Pet Industry: Pet Owners 2023 & Beyond is now available in the APPA Store! Don’t miss out on essential pet industry insights to transform your business strategy in 2024.