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Pet Stores

Pet Stores

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Executive summary

The Pet Stores industry has prospered over the five years to 2022 due to improvements in household finances and, rising pet ownership among millennials. Therefore, pet parents have increasingly lavished their pets with premium food products, designer pet accessories and luxury grooming services. The industry has expanded steadily during the period despite mounting competition from supermarkets, mass merchandisers and online retailers that offer similar products at greater convenience and competitive prices. Traditional brick-and-mortar establishments have successfully positioned themselves as pioneers and exclusive providers of high-quality food and service offerings, such as grooming or daycare. Over the five years to 2022, IBISWorld expects industry revenue to rise an annualized 1.9% to $23.5 billion. However, industry revenue is expected to decline 1.1% due to anticipated decreases in the number of pets and per capita disposable income.
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industry revenue;

industry profit;

industry margin;

industry employment;

industry major players;

industry key external drivers;

industry product & structure segmentation;

industry key trends;

industry Life Cycle;

industry Geographic Breakdown;

industry Key Success Factors;

industry Key statistics for previous years;

forecast of industry Key statistics for the next 5 years;

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Reference Wordlist

High barriers to entry mean that new companies struggle to enter an industry, while low barriers mean it is easy for new companies to enter an industry.

Compares the amount of money spent on capital (plant, machinery and equipment) with that spent on labor.
IBISWorld uses the ratio of depreciation to wages as a proxy for capital intensity. High capital intensity is more than $ 0.333 of capital to $ 1 of labor; medium is $ 0.125 to $ 0.333 of capital to $ 1 of labor; low is less than $ 0.125 of capital for every $ 1 of labor.

The dollar figures in the Key Statistics table, including forecasts, are adjusted for inflation using the current year (i.e. year published) as the base year. This removes the impact of changes in the purchasing power of the dollar, leaving only the "real" growth or decline in industry metrics. The inflation adjustments in IBISWorld’s reports are made using the US Bureau of Economic Analysis’ implicit GDP price deflator.

Spending on industry goods and services within the United States, regardless of their country of origin. It is derived by adding imports to industry revenue, and then subtracting exports.

The number of permanent, part-time, temporary and seasonal employees, working proprietors, partners, managers and executives within the industry.

Colloquial Terminology

A type of public offering in which shares of a company are usually sold to institutional investors who, in turn, sell to the general public on a securities exchange for the first time.

Long- and short-term options for owners who need assistance looking after their pets. Services include feeding, walking, grooming and lodging.

Pet owners who are enthusiastic about their pets and treat them as members of their family.


Since pets are often viewed as family members, for most of the past five years, favorable economic conditions enabled pet owners to increase spending on the industry's products through rising disposable income levels. Over the five years to 2022, per capita disposable income has improved at an annualized rate of 1.7%, contributing to the splurge on industry products by pet owners. Moreover, pet owners have gradually shifted preferences to higher-quality organic, gluten-free and grain-free pet foods and luxury pet therapy sessions. However, household discretionary spending was affected in 2020 by the COVID-19 (coronavirus) pandemic, which challenged the industry. Therefore, customer traffic declined as coronavirus fears grew. Consequently, industry demand softened and pushed customers to buy pet goods from online retailers, which is expected to constrain industry profit. However, as the pandemic subsides, industry profit and revenue are expected to rebound in 2021.

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