By Caitlin Mullen – Bizwomen contributor
Dec 4,
2018, 1:33pm EST Updated Dec
4, 2018, 1:48pm EST
Pet
owners are spending more on pet food and treats, and, increasingly, buying them
online.
That’s
according to recent Nielsen findings, which
show there's a growing assortment of products and more ways to purchase them,
from big box and online retailers to veterinary clinics and local pet
stores.
Pet
owners will spend an estimated $72 billion on their furry companions's food,
supplies, vet care, grooming and boarding this year, up from $69.5 billion in
2017, according to the American Pet Products Association. Pet
ownership in the last 30 years has risen from 56 percent to 68 percent of
households.
“Talk
to any pet owner and they’ll tell you how difficult it is to put a dollar limit
on what they’d spend to give their loyal companion a happy life, and it’s this
outlook that continues to drive growth,” Bob Vetere, the
APPA’s president and CEO, has said.
Pet
food and treats accounted for $32.7 billion in spending in the past year,
Nielsen reports. That’s a 5 percent increase — $1.5 billion — from the year
prior. Online sales have increased 53 percent. Wet dog food in particular has
grown 4.7 percent, per Nielsen.
Although
tonnage of pet food is down just slightly, Nielsen notes the increase in sales
from last year is due to more pet owners selecting premium products for their
pets. Just as a growing number of consumers have turned to natural foods for
themselves, they’re doing the same for their pets.
Sales
of online pet retailer Chewy.com’s American Journey line, featuring proteins
paired with ingredients like sweet potatoes, blueberries and chickpeas, have
grown quickly: Compared to the year prior, Chewy sold almost seven times as
many American Journey products between September 2017 to August 2018, per a
private label report from 1010Data.
Petco has announced
it will no longer sell pet food and treats with artificial colors, flavors and
preservatives. Online companies Ollie and Pet
Plate sell fresh, premium dog food meals with butternut squash,
broccoli, cranberries, apple or kale complementing chicken, beef and other
proteins, and cold-ship them to pet owners’ doors.
Nielsen
notes an omnichannel approach benefits brands most, as 51 percent of pet owners
say they never plan to shop online for pet items.
Brick-and-mortar
pet stores are tightening margins to keep prices low and adding services to
stay competitive, per Pet Business.
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