Petflation 2024 – February Update: Drops to +3.5% vs 2023
The National YOY CPI rose from 3.1% to 3.2% but Total Petflation fell from 4.7% in January to 3.5% in February.
Over 45 years in Consumer Products including 31+ years in the Pet Industry developing and executing successful strategic sales and marketing plans for manufacturers.
The National YOY CPI rose from 3.1% to 3.2% but Total Petflation fell from 4.7% in January to 3.5% in February.
Total Pet Spending is a sum of the segments. Compare their demographic performance side by side to find the similarities and differences.
With only 1 minute and 10 seconds to spend with each exhibitor, you need a plan!
Sales fell from December for every channel and all increases vs 2023 except for Health/Drug stores were well below their 19>24 average.
GPE 2024 returns to a new normal with surges in companies offering OEM and foreign exhiibitors!
In January, Petflation slowed to 4.7% from 5.1% but this is still the 4th highest January rate since 1997!
After a record increase in 2021, 77% of demographic segments spent less in 2022 and spending fell -$2.95B, -9.0%.
A 2nd consecutive record spending increase as 93% of demographic segments spent more on Pet Services!
After a record lift in 2021, Supplies $ fell -$1.86B in 2022, but 52% of demographic segments still spent more.
In 2023 Relevant Retail sold only 0.3% more product than last year, a small lift but much better than -0.2% in 2022.