2019 Pet Food Spending was $31.19B – Where did it come from…?
A strong rebound from the impact of the FDA grain free warning, but Pet Food spending became a little less demographically balanced.
Over 45 years in Consumer Products including 31+ years in the Pet Industry developing and executing successful strategic sales and marketing plans for manufacturers.
A strong rebound from the impact of the FDA grain free warning, but Pet Food spending became a little less demographically balanced.
Pet Food $ rebounded but couldn’t overcome a record drop in Supplies due to Tarifflation!
December Retail $ grew to a record $620B, pushing Total Retail Sales up +$40B YTD vs 2019.
2019 was a bad year for lower income minorities, Hispanics and especially African Americans.
On the surface, Total Pet Spending was flat and more stable than 2018 but still moving towards higher incomes.
Total Retail $ fell vs October but continued to grow YTD vs 2019 due to the Relevant Retail Group.
The younger groups spent more on their Pets, but not enough to overcome decreases by older Americans.
In October YTD Total Retail $ exceeded 2019 for the first time since February!
A spending mixed bag, but a rebound in Pet Food $ was not enough to overcome a big drop in Supplies $ due to tarifflation.
Spending was up 2.7%, but inflation was up 4.1%, producing a net 1.4% decrease in the amount of Veterinary Services.