Chicago, IL—In 25 years, American pet owners have increased their year-over-year spending by 450% and today, pet owners spend $49 billion on pet care products per year, according to SPINS.
The data-driven company has expanded it’s research and investments in the category with the announcement of its Neighborhood Pet Channel. SPINS Neighborhood Pet channel provides proprietary data insights and solutions for brands & retailers looking to drive innovation and growth with an eye for health and wellness.
“SPINS continues to make substantial investments in the Natural Product Industry’s full ecosystem of innovation by supporting brands and retailers through access to market, benchmark, and product intelligence data,” said Tony Olson, owner and CEO of SPINS. “With the introduction of our Neighborhood Pet Channel, SPINS builds upon our mission to increase the presence and accessibility of Natural and better-for-you products through education for pets owners, which also translates into success for both pet brands and retailers.”
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A little sneak peak into the Neighborhood Pet Channel? Here are four top trends in the Pet category:
1) The Rise of Natural—Neighborhood pet specialty stores have seen over 70% of their dollar sales come from natural, specialty, and wellness products.
2) Customizing the Pet Diet—Pet owners are interested in high protein foods, natural ingredients, and minimal or no preservatives or artificial flavors.
3) The Struggle to Achieve Sustainability Inside and Out—Sustainability has been a growing focus for consumers across the retail space, and that includes pet parents. A study from First Insight finds that 73% of Gen Z and 68% of millennials are willing to spend more for sustainable products.
4) Enriching the Neighborhood Store Experience—This year’s quick rise in eCommerce came from the effects of the pandemic and cannot be ignored as a mainstay of today’s shoppers, but that doesn’t mean it’s the only way to succeed in 2020. It’s just part of an overall omnichannel approach that reaches customers in the digital and brick and mortar spaces.
Readers can learn more about Pet Trends, here.