Go Upscale for the Pet Market

Retailing sector observers are predicting that the pet market will prosper. What can you do to profit from this? Almost any retailer can add at least a limited line for pets. Even IKEA and Lands’ End did it.
     When you deal in pet items, you’ll probably notice the trend toward the upscale. It’s not just that suppliers of small pet items include high-fashion brands like Gucci, but also that consumers are willing to pay for merchandise and services they believe to be healthier for their animal companions. According to a February 5 article in the Boston Globe, the natural pet food market has more than doubled over the past four years. K9 Water Company has been around for a while supplying vitamin-enriched drinking water for dogs. WellPet and Nature’s Variety are up-and-coming.
     It’s in our human nature to nurture. So as the percentage of families with children decreases, the drive to own a pet increases. Some of the decrease comes from people staying single longer, some comes from empty nesters living longer, and some from other sources. Researchers at American Demographic report that 92% of owners of dogs and cats consider them to be members of the family. If as a retailer, it won’t work for you to allow the pet to join the shoppers in your store, feature pictures of pets with their people where you’re selling the pet items.
     But be aware that there are limits to how cute your regular customers will let you get. And some are likely to consider your store to be foolish for catering at all to health-oriented pet items. One sarcastic comment posted in response to the Boston Globe article reads, “I feed my goldfish organic, wild caught (not farmed) fish food. I am hoping they live 7 months instead of 6.”