Wednesday, November 2, 2011

Dog Each Track for Pet Food Profits

Sales of items for household pets outpace sales in other retailing sectors. What can you do to profit from this? Almost any retailer can add at least a limited line for pets. Harley-Davidson, Ralph Lauren, IKEA, and Lands’ End have all done it.
     Notice the trend toward the upscale and claims of health benefits. 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 enhance the health of their animal companions.
     Survey researchers at Eastern Washington University found that about 80% of dog owners said they were serious about selecting healthy food for their dogs, but only 65% of the same people said they were this serious with their own food selection. Findings from an ethnographic study at University of Utah attributed trends like these to us considering our pets to be more defenseless than ourselves.
     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 it won’t work for you to allow the pet to join the shoppers in your store, feature pictures of pets with their people.
     But do 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. Dog owners are more nurturing of their pets than cat owners are of theirs. The psychology of the cat owner, along with the feline itself, is one of greater independence. And one aquarium owner wrote sarcastically, in a comment to a Boston Globe article about the health trend, “I feed my goldfish organic, wild caught (not farmed) fish food. I am hoping they live 7 months instead of 6.”

For your profitability: Sell Well: What Really Moves Your Shoppers

Click below for more:
Go Upscale for the Pet Market
Have Products & Services to Pamper Pets

1 comment:

  1. Emerging sector , retailers should focus more on pet foods, and accessories to gain advantage.

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