The Pet Product Revolution is Here
Did you know that the pet products category has been growing leaps and bounds for the past few years?!?
With Valentine's Day last week, it was estimated that "Americans will drop $886 million on Valentines gifts and treats for their pets..." (https://www.washingtontimes.com/news/2019/feb/14/americans-spend-record-breaking-207-billion-on-val/ ). Valentine's Day itself is a $20 billion industry and look at the chunk that was spent on pets.
Goodness knows, as a mom to many four-footed kids, I make sure they are always included in the holidays.
The pet product industry is a $70 billion industry. Over 86 million own cats, and about 78 million own dogs just in the United States alone (https://www.psychologytoday.com/us/blog/canine-corner/201305/the-truth-about-cats-and-dogs-the-numbers).
Pets are big business and whenever I am teaching a product development class, I always suggest to students to think outside of the box and find a growing category to enter. There are too many juniors related apparel companies; focus on one that has potential.
There are so many great brands already out there, but there is still room! You just have to be creative and passionate about this market.
Even Louis Vuitton unveiled a line inspired by Grace Coddington's cats last year. The collection consisted of shoes, scarves, hats, umbrellas, purses and clothes, all featuring cats and kittens!
As more people choose to adopt pets over having children, this market is wide open for continuing growth. Animal rescues are also looking for ways to raise much needed funds, so working with some in terms of creating products and marketing them, it follows the TOMS handbook of doing good when buying goods.
If you are thinking of starting a pet apparel or related products line, contact me as I have worked with several companies and I can help develop a concept and create the designs as well as merchandise the collection.