Market Research Finds That Pet Owners Are Spending Less
MAY 14, 2012 - 06:08 ET
ROCKVILLE, MD--(Marketwire - May 14, 2012) - MarketResearch.com has announced the addition of the new report "U.S. Pet Market Outlook 2012-2013," to their collection of Pet Services & Supplies market reports. For more information, visit http://www.marketresearch.com/Packaged-Facts-v768/Pet-Outlook-6501263
Pet owners' diminished economic fortunes have translated into reduced pet market spending. According to Packaged Facts Pet Owner Surveys conducted during the past two years, over one-third of pet owners have made economy-related cutbacks to their pet market spending. In February 2010, 27% of pet owners agreed with the statement "I am spending less on pet products because of the economy," and the number rose to 35% in February 2011 and to 38% in September 2011. In our most recent survey, conducted in March 2012, the picture was only slightly brighter, with 36% of pet product buyers in agreement.
Level of Agreement with Statement:
"I am spending less on pet products because of the economy," 2010-2012
|Level of Agreement||2010||2011||2012|
|No Opinion/Not Applicable||18||22||25|
Base = pet product buyers
Source: Packaged Facts Pet Owner Surveys, February 2010, February 2011, and March 2012
Shopper overall remain intently focused on value supermarkets and discount stores have seen their pet product shopper base decline. While store brands overall are more important than ever across the consumer packaged goods spectrum, pet food remains private-label resistant, an outpost of shopper loyalty to national brands.
For more information, visit http://www.marketresearch.com/Packaged-Facts-v768/Pet-Outlook-6501263
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