2020's Most Popular Pet Industry Trends

According to the U.S. Pet Market outlook (2019-2020), pet industry sales are topping 5 percent, with a five year $90 billion forecast over the next five years. It’s all about consumer loyalty this upcoming year when it comes to e-commerce. Let’s explore the most popular pet industry trends for the year to come:

Technology

As we enter the next decade, the driving force in the pet care market is technology. The boost in technology can be attributed to the pet industry growth of new products and services now in the market. Pet industry experts need to be thinking outside the box to deliver products and services to the pet industry. There are more pet products and services available every day. Those who are successful in marketing and retail will be successful with technology-based products. With the increasing use of e-commerce, it is crucial to package your technology in a way to appeal to the consumer.

Health and Safety Benefits

Products and services offered in 2020 need to demonstrate pet health and safety benefits. Try tying in veterinarians and pet industry health experts in the research and development phase. Having an expert available will ensure the stamp of approval needed to generate influence when introducing the product or service as well.

E-commerce & Brick and Mortar Channel Experience

It’s essential to have a seamless way for customers to have a quick and smooth shopping experience across channels such as mobile, desktop, and brick and mortar stores. It’s been proven that businesses with omnichannel operations strategies will have a 91 percent greater user retention rate than their counterparts. Having an omnichannel strategy, as well as operations, will be a necessity for retailers in 2020.

Subscription Services

Pet industry experts will agree that the rise of subscriptions in the form of auto-replenishment and monthly/annual memberships or subscriptions will be a driving force in the pet industry for the next year. Having a product offering, including health monitoring systems, wellness, and nourishment services and products, will give business owners a leg up for the time being.

Apps

Consumers want the ability to be linked between vendors service providers in the pet care industry. The way to accomplish this is through smartphone applications. Investing in an app will bridge the game between the two and make for a better user experience.

Soft and Hard Products Linked

Pet food and smart feeders have proven to be a success in the pet industry for 2019. We’ve seen pet food and smart feeders, automatic supply ordering, and smart cat litter boxes and cat litter. See more retailers offering soft and hard products in one package in 2020 to continue the success.

Pet Care Tasks Made Easier

Products in 2020 will be designed and engineered to make tasks easier for pet owners. As stated above, pet feeders and smart cat litter boxes are at the top of the list. Their popularity proves that state-of-the-art technology is where the pet industry is most promising.

How big is the pet food industry?

The global pet food sales are worth a whopping 91 billion U.S. dollars. Currently, the pet food industry in the United States is worth over 25 billion U.S. dollars and is estimated to increase by over five billion by 2022.

How big is the pet industry?

The pet industry in the United States alone was worth 95.7 billion U.S. dollars last year. It's estimated that 99 billion U.S. dollars will be spent on pets this year.

Is the pet industry growing?

Around 80 million households in the United States own a pet so it's no surprise that the revenue in the pet industry is increasing by over 4% yearly. The average annual growth rate of the pet industry since 2002 is 5.4%.

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Written by Leo Roux

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