Fountain Report Excerpts January 3, 2023

Fountain Report Excerpts
  1. The American Animal Hospital Association has released the “2023 AAHA Senior Care Guidelines for Dogs and Cats” to support veterinary teams treating senior patients. According to the association, the new guidelines “offer actionable strategies that veterinary teams can adopt to create senior-friendly environments that welcome senior pets, including modification of physical environments, prioritizing care to keep families together and taking different approaches to healthy and unhealthy senior patients.”
  1. E-commerce sales of pet products reached an estimated $30.7 billion in 2022, or 36% of total pet product sales, up from 16% in 2017, according to a new report from Packaged Facts. With the e-commerce share projected to reach 45% of the total by 2026, in-store sales account for a decreasing majority of pet product sales, the report says. While pet specialty retailers took an estimated 40% share of pet product sales in 2022 and have seen some gains in recent years, retailers outside the specialty space will likely have an edge in sales growth going forward.
  1. The pandemic came on the tail end of a three-decade-long growth run in which pet spending nearly doubled relative to other spending. According to the Bureau of Labor Statistics, average annual household spending on pets rose from $460 in 2013 to $770 in 2021. That figure would be substantially higher if it excluded households with no pets. The Washington Post recently broke down what’s contributing to the rise in pet spending—it seems to be a mix of increased pet ownership and people devoting more attention to their pets—and the demographics of pet ownership. Childless married couples are the fastest-growing group of pet owners, and they’re among the biggest spenders on pets relative to their income, data shows.

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