Industry Analysis & Industry Trends
The Pet Stores industry has purred along over the past five years as cats, dogs, fish and birds have remained popular home companions. Pet parents, or pet owners who treat their four-legged friends as family members, have grown increasingly common and facilitated demand for pet stores. Accelerated by economic recovery, the industry has expanded strongly, despite increased competition from supermarkets, mass merchandisers and online retailers that offer consumers greater convenience and competitive prices. Over the five years to 2022, the Pet Stores industry is projected to maintain strong growth. As the economy continues its upward trajectory and consumers have more discretionary income, revenue from premium products and services is projected to increase... purchase to read more
Industry Report - Industry Key Buyers Chapter
More than half of the Pet Stores industry’s revenue comes from two specialty supply retailers: PetSmart Inc. and Petco Animal Supplies Inc. The remainder consists of family-owned stores, small franchises and small chains of pet stores. Despite the moderate degree of concentration, small operators are still able to find niche markets in their geographical locations, rarely expanding beyond those areas.
Over the five years to 2022, PetSmart and Petco are expected to grow in their share of the industry because big-box retailers are able to offer customers a “best of both worlds” scenario, which includes providing broad and industry-specific product selections while operating on such a scale that they can purchase in bulk and pass savings on to consumers in the form of lower prices. Con.. purchase to read more