{"id":29394,"date":"2023-07-03T09:08:36","date_gmt":"2023-07-03T16:08:36","guid":{"rendered":"https:\/\/paladinpointofsale.com\/retailscience\/home\/?p=29394"},"modified":"2025-09-22T15:07:20","modified_gmt":"2025-09-22T22:07:20","slug":"niche-markets-pet-products-can-be-a-retailers-best-friend","status":"publish","type":"post","link":"https:\/\/paladinpointofsale.com\/retailscience\/home\/niche-markets-pet-products-can-be-a-retailers-best-friend\/","title":{"rendered":"Niche Markets: Pet Products can be a Retailer’s Best Friend"},"content":{"rendered":"

[et_pb_section fb_built=”1″ fullwidth=”on” _builder_version=”4.16″ background_color=”rgba(0,0,0,0.29)” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_fullwidth_post_title meta=”off” featured_placement=”background” text_color=”light” _builder_version=”4.25.0″ title_font=”|700||on|||||” title_text_color=”#ffffff” title_font_size=”30px” background_color=”rgba(0,0,0,0.15)” background_enable_image=”off” background_blend=”color” vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ text_orientation=”center” custom_padding=”15%||15%” hover_enabled=”0″ z_index_tablet=”0″ title_text_shadow_style=”preset5″ title_text_shadow_horizontal_length_tablet=”0px” title_text_shadow_vertical_length_tablet=”0px” title_text_shadow_blur_strength_tablet=”1px” meta_text_shadow_horizontal_length_tablet=”0px” meta_text_shadow_vertical_length_tablet=”0px” meta_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” text_shadow_style=”preset2″ parallax_effect=”on” module_bg_color=”rgba(255,255,255,0)” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″][\/et_pb_fullwidth_post_title][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_padding=”0px|0px|18.95px|0px|false|false” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||” theme_builder_area=”post_content”][et_pb_text admin_label=”Preamble” _builder_version=”4.25.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ hover_enabled=”0″ z_index_tablet=”0″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″]<\/p>\n

Retailers have been sweating the possibility of a recession for over a year. They have been agonizing, strategizing, and adjusting their inventories to brace for the potential economic fall. For hardware stores, there is a simple way to soften the effects: add or increase your store\u2019s supply of pet products. While nothing is recession-proof, pet food and accessories are a great niche market that can be a retailer\u2019s best friend.<\/p>\n

According to NASDAQ, the pet products industry is one of the \u201cmost attractive and rapidly growing sectors in today\u2019s market.\u201d In 2022, Americans spend $136.8 billion on their pets and that trend is expected to continue a steady rise like a cat\u2019s back.<\/p>\n

Although he didn\u2019t have retailers in mind when he penned the line in 1960, famed \u201cPeanuts\u201d author Charles Schulz\u2019s iconic phrase \u201cHappiness is a warm puppy\u201d perfectly describes how most consumers feel about their pets and how those feelings result in added purchases.<\/p>\n

Here are a few interesting details about pet owners.<\/p>\n

[\/et_pb_text][et_pb_blurb title=”According to the 2023-24 American Pet Products Association, two-thirds of U.S. households own pets. That equates to 86.9 million households.” use_icon=”on” font_icon=”||fa||900″ icon_color=”#cc6633″ icon_placement=”left” admin_label=”Blurb – According to” _builder_version=”4.25.0″ _module_preset=”default” animation_style=”fade” animation_delay=”1000ms” hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″][\/et_pb_blurb][et_pb_blurb title=”Dogs are the biggest influence driving first-home purchases among millennials. (More on that later.)” use_icon=”on” font_icon=”||fa||900″ icon_color=”#cc6633″ icon_placement=”left” admin_label=”Blurb – Dogs are” _builder_version=”4.25.0″ _module_preset=”default” animation_style=”fade” animation_delay=”1000ms” hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″][\/et_pb_blurb][et_pb_blurb title=”About 45% of American pet owners spend the same amount or more on their pet\u2019s health care as they do on their own.” use_icon=”on” font_icon=”||fa||900″ icon_color=”#cc6633″ icon_placement=”left” admin_label=”Blurb – About 45%” _builder_version=”4.25.0″ _module_preset=”default” animation_style=”fade” animation_delay=”1000ms” hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″][\/et_pb_blurb][et_pb_text admin_label=”Pet stories” _builder_version=”4.25.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ hover_enabled=”0″ z_index_tablet=”0″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″]

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Nathaniel Garber Schoen and his pooch, Kang, at work at Garber Hardware in Manhattan.<\/p><\/div><\/p>\n

Pet stories<\/h3>\n

Pet products offered such a lucrative side gig for Crown Ace Hardware, it opened a store dedicated to the industry. Crown Ace, a staple of the Corona del Mar community near San Diego for 49 years, branched out in 2022 with Corona del Mar Pet Supply.<\/p>\n

The hardware and pet industry took a big-box step in January 2022 when Lowe\u2019s announced a pilot store-in-store program that opened a Petco in Lowe\u2019s Alamo Ranch, Texas location. The initial plan was for 14 additional stores by mid-year. In July 2023, Lowe\u2019s announced plans to increase its partnership from 15 stores to nearly 300 locations by the end of the year.<\/p>\n

Pampering pets isn\u2019t just an American phenomenon. Bunnings, an Australian big-box hardware chain, sunk its claws into the pet products market in 2020 for the first time in its 140-year history. Over two-thirds of Australian households own pets.<\/p>\n

The move has been so successful, that in 2023, the company added roughly 1,000 new pet lines to its stores to claim an even larger share of the $13 billion Australian pet industry.<\/p>\n

[\/et_pb_text][et_pb_text admin_label=”Why Pet Products” _builder_version=”4.25.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ hover_enabled=”0″ z_index_tablet=”0″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″]<\/p>\n

WHY PET PRODUCTS ARE A GOOD INVESTMENT<\/h3>\n

With the assortment of pet products procreating like rabbits, you might wonder if jumping into the market is a good idea. The simple answer is \u201cyes\u201d and here\u2019s why.<\/p>\n

The market keeps growing.<\/strong><\/span><\/p>\n

[\/et_pb_text][et_pb_blurb title=”The pet products market has more than doubled in the past 10 years.” use_icon=”on” font_icon=”||fa||900″ icon_color=”#cc6633″ icon_placement=”left” admin_label=”Blurb – The pet products market” _builder_version=”4.25.0″ _module_preset=”default” animation_style=”fade” animation_delay=”1000ms” hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″][\/et_pb_blurb][et_pb_blurb title=”A post-pandemic Forbes survey found that 78% of pet owners had acquired their furry friends since the start of the COVID-19 shutdown. Another survey from Petco put the number of pets adopted since the start of the pandemic at around 11 million.” use_icon=”on” font_icon=”||fa||900″ icon_color=”#cc6633″ icon_placement=”left” admin_label=”Blurb – A post-pandemic” _builder_version=”4.25.0″ _module_preset=”default” animation_style=”fade” animation_delay=”1000ms” hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″][\/et_pb_blurb][et_pb_blurb title=”Millennials are now the largest segment of pet owners at 32%, so selling pet products is a way to reach younger shoppers. More than half of them admit to buying gifts for their pets on a monthly basis” use_icon=”on” font_icon=”||fa||900″ icon_color=”#cc6633″ icon_placement=”left” admin_label=”Blurb – Millennials are now” _builder_version=”4.25.0″ _module_preset=”default” animation_style=”fade” animation_delay=”1000ms” hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″][\/et_pb_blurb][et_pb_blurb title=”Pet owners spend an average of around $1,600 on dogs and $1,100 on cats annually, which is a lot of bones.” use_icon=”on” font_icon=”||fa||900″ icon_color=”#cc6633″ icon_placement=”left” admin_label=”Blurb – Pet owners spend” _builder_version=”4.25.0″ _module_preset=”default” animation_style=”fade” animation_delay=”1000ms” hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″][\/et_pb_blurb][et_pb_text admin_label=”They produce tail-wagging” _builder_version=”4.25.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ hover_enabled=”0″ z_index_tablet=”0″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″]<\/p>\n

They produce tail-wagging profits.<\/strong><\/span>\u00a0It\u2019s common for gourmet pet foods to have roughly 40% profit margins and foods account for approximately 75% of all pet products sales. Other products such as chew toys, dental care, and toys can have margins as high as 70%.<\/p>\n

Every season is pet season.<\/span>\u00a0<\/strong>Pet products sell year-round. Pets always need to eat, and owners often purchase treats along with food. While sales peak during the holiday season when pet owners splurge on toys, treats and winter clothing for their furry friends, demand is steady and stable during the year which makes managing inventory relatively easy.<\/p>\n

[\/et_pb_text][et_pb_text admin_label=”The niche has become” _builder_version=”4.25.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ hover_enabled=”0″ z_index_tablet=”0″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″]

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Millennials are now the largest generation of pet owners.<\/p><\/div><\/p>\n

The niche has become so popular that several non-pet brand companies have joined.<\/p>\n

    \n
  • Jazwares, a global toy and entertainment company owned by Berkshire Hathaway, has begun offering plushies and collectibles for pets.<\/li>\n
  • Designer brand Versace offers Barocco-style plush pet beds and Medusa-studded pet harnesses.<\/li>\n
  • Bloomingdale\u2019s dedicates numerous pages to its Pet Shop site.<\/li>\n
  • Glad, the company that brought us the Glad sandwich bag, now has Fetch for Pets, which includes pet toys, grooming supplies, pet apparel, feeding accessories, and more.<\/li>\n
  • Dole, known for canned fruit, has expanded its fruit snacks to pets.<\/li>\n
  • Arm & Hammer, the baking soda company, offers more than cat litter. It\u2019s product line includes:\n
      \n
    • Tartar control dental water additive for dogs and cats<\/li>\n
    • Pet toothpaste with beef, chicken, vanilla ginger and banana mint flavors for dogs (tuna for cats)<\/li>\n
    • Doggy dental kits and more<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

      [\/et_pb_text][et_pb_text admin_label=”Not to be left out” _builder_version=”4.25.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ hover_enabled=”0″ z_index_tablet=”0″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″]<\/p>\n

      Not to be left out, the entertainment industry has a variety of licensed pet products:<\/p>\n

        \n
      • \"A

        Pet owners spend an average of around $1,600 on dogs and $1,100 on cats annually.<\/p><\/div>Star Wars pet beds<\/li>\n

      • Peanuts dog leashes<\/li>\n
      • Hello Kitty cat scratchers<\/li>\n
      • Marvel Comics dog collars<\/li>\n
      • Harry Potter Wand cat toys<\/li>\n
      • Batman dog hoodies<\/li>\n
      • SpongeBob SquarePants fish tanks<\/li>\n
      • Jurassic World reptile terrariums<\/li>\n
      • Barbie pet carriers<\/li>\n
      • And, of course, Game of Thrones cat beds<\/li>\n<\/ul>\n

        [\/et_pb_text][et_pb_text admin_label=”Pets and home improvement” _builder_version=”4.25.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ hover_enabled=”0″ z_index_tablet=”0″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″]<\/p>\n

        PETS AND HOME IMPROVEMENT GO TOGETHER<\/h3>\n
        \"German

        Upscale dog houses are just one of the new pet niche markets.<\/p><\/div>\n

        Another reason pet products aren\u2019t a reach for most hardware stores is that pet ownership and home improvement go hand in paw. Homeowners often add fencing to keep Rover from roaming. Kennels and dog runs are often built instead of bought.<\/p>\n

        Dogs and cats also bring their own special kind of wear and tear \u2013 literally \u2013 into their homes. Kitty condos and scratching posts can save furniture and drapes from shredding. Dog doors allow Fido to come and go of their own accord. And there are many products \u2013 see Arm & Hammer above \u2013 designed to clean up pet messes on carpets and upholstery.<\/p>\n

        According to Lowe\u2019s, its research reflected the trend mentioned above that millennial and gen Z customers considered pet ownership a factor in their home buying decisions. It also showed that 58% of pet owners say they\u2019re more inclined to shop at a store that offers both home improvement and pet products.<\/p>\n

        [\/et_pb_text][et_pb_text admin_label=”Pets are more” _builder_version=”4.25.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ hover_enabled=”0″ z_index_tablet=”0″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″]<\/p>\n

        PETS ARE MORE THAN DOGS AND CATS<\/h3>\n
        \"Cute

        Hobby farms have turned many different farm animals into pets.<\/p><\/div>\n

        Pets now include more than dogs, cats, fish, birds and reptiles. As many American move beyond the cities and their suburbs, they have adopted farming lifestyles and the critters that go along with that.<\/p>\n

        \u201cA lot of people have hobby farms now, so we stock hay, straw, seed and feed. We offer chicks seasonally because a lot of people have backyard flocks,\u201d says Elizabeth Schreiber, manager of Rosedale Town & Country in Pennington, New Jersey. \u201cWe\u2019re a\u00a0real<\/em>\u00a0farm store, but about a third of our business is pets, now.\u201d<\/p>\n

        The business started out around the turn of the last century as a feed mill. It evolved into a farm supply, and now it does much of its business feeding and providing products for horses, smaller livestock and pets.<\/p>\n

        Rural hardware stores all over the country have similar stories. Tri-County Hardware and Farm Supply serves a trio of small towns in the Florida panhandle.<\/p>\n

        \u201cYou gotta have feed because everybody around here has a cow, a pig, a chicken or a goat, and they all need hardware, too.\u201d says owner Dennis Gamble. \u201cI\u2019d rather sell a handful of bolts than a bag of seed. Bolts don\u2019t mold and go bad, but you cater to your customers.\u201d<\/p>\n

        [\/et_pb_text][et_pb_text admin_label=”Upshot” _builder_version=”4.25.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ hover_enabled=”0″ z_index_tablet=”0″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}” theme_builder_area=”post_content” sticky_enabled=”0″]<\/p>\n

        UPSHOT<\/h3>\n

        Many hardware stores already stock feed and seed and seasonally sell spring chicks. Adding a few brands of food and a line of pet products is an easy way to get additional sales from existing customers, attract new shoppers, and create a steady stream of income in uncertain economic times.<\/p>\n

        [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||” theme_builder_area=”post_content”][et_pb_text admin_label=”Author” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}” theme_builder_area=”post_content”]<\/p>\n

        brian bullock\u00a0<\/span><\/h3>\n

        Author<\/span> [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

        Adding a few brands of pet products is an easy way to get additional sales from existing customers and attract new shoppers.<\/p>\n","protected":false},"author":13,"featured_media":29395,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"
        \"Image<\/td><\/tr><\/tbody><\/table>

        \u00a0<\/p>

        Niche Markets: <\/span><\/strong><\/span>Pet Products can be a Retailer\u2019s Best Friend<\/span><\/span><\/strong>
        by Brian Bullock | July 1, 2023<\/span><\/b><\/span><\/p>

        Retailers have been sweating the possibility of a recession for over a year. They have been agonizing, strategizing, and adjusting their inventories to brace for the potential economic fall. For hardware stores, there is a simple way to soften the effects: add or increase your store\u2019s supply of pet products. While nothing is recession-proof, pet food and accessories are a great niche market that can be a retailer\u2019s best friend.<\/span><\/p>

        According to NASDAQ, the pet products industry is one of the \u201cmost attractive and rapidly growing sectors in today\u2019s market.\u201d In 2022, Americans spend $136.8 billion on their pets and that trend is expected to continue a steady rise like a cat\u2019s back.<\/span><\/p>

        Although he didn\u2019t have retailers in mind when he penned the line in 1960, famed \u201cPeanuts\u201d author Charles Schulz\u2019s iconic phrase \u201cHappiness is a warm puppy\u201d perfectly describes how most consumers feel about their pets and how those feelings result in added purchases.<\/span><\/p>

        Here are a few interesting details about pet owners.<\/span><\/p>

        • According to the 2023-24 American Pet Products Association, two-thirds of U.S. households own pets. That equates to 86.9 million households.<\/span><\/li>
        • Dogs are the biggest influence driving first-home purchases among millennials. (More on that later.)<\/span><\/li>
        • About 45% of American pet owners spend the same amount or more on their pet\u2019s health care as they do on their own.<\/span><\/li><\/ul>[caption id=\"attachment_29396\" align=\"alignright\" width=\"300\"]\"Image Nathaniel Garber Schoen and his pooch, Kang, at work at Garber Hardware in Manhattan.<\/span>[\/caption]

          Pet stories<\/span><\/h2>

          Pet products offered such a lucrative side gig for Crown Ace Hardware, it opened a store dedicated to the industry. Crown Ace, a staple of the Corona del Mar community near San Diego for 49 years, branched out in 2022 with Corona del Mar Pet Supply.<\/span><\/p>

          The hardware and pet industry took a big-box step in January 2022 when Lowe\u2019s announced a pilot store-in-store program that opened a Petco in Lowe\u2019s Alamo Ranch, Texas location. The initial plan was for 14 additional stores by mid-year. In July 2023, Lowe's announced plans to increase its partnership from 15 stores to nearly 300 locations by the end of the year.<\/span><\/p>

          Pampering pets isn\u2019t just an American phenomenon. Bunnings, an Australian big-box hardware chain, sunk its claws into the pet products market in 2020 for the first time in its 140-year history. Over two-thirds of Australian households own pets.<\/span><\/p>

          The move has been so successful, that in 2023, the company added roughly 1,000 new pet lines to its stores to claim an even larger share of the $13 billion Australian pet industry.<\/span><\/p>

          Why pet products are a good investment<\/span><\/h2>

          With the assortment of pet products procreating like rabbits, you might wonder if jumping into the market is a good idea. The simple answer is \u201cyes\u201d and here\u2019s why.<\/span><\/p>

          The market keeps growing.<\/strong><\/span><\/p>

          • The pet products market has more than doubled in the past 10 years.<\/span><\/li>
          • A post-pandemic Forbes survey found that 78% of pet owners had acquired their furry friends since the start of the COVID-19 shutdown. Another survey from Petco put the number of pets adopted since the start of the pandemic at around 11 million.<\/span><\/li>
          • Millennials are now the largest segment of pet owners at 32%, so selling pet products is a way to reach younger shoppers. More than half of them admit to buying gifts for their pets on a monthly basis.<\/span><\/li>
          • Pet owners spend an average of around $1,600 on dogs and $1,100 on cats annually, which is a lot of bones.<\/span><\/li><\/ul>

            They produce tail-wagging profits.<\/strong> It\u2019s common for gourmet pet foods to have roughly 40% profit margins and foods account for approximately 75% of all pet products sales. Other products such as chew toys, dental care, and toys can have margins as high as 70%.<\/span><\/p>

            Every season is pet season. <\/strong>Pet products sell year-round. Pets always need to eat, and owners often purchase treats along with food. While sales peak during the holiday season when pet owners splurge on toys, treats and winter clothing for their furry friends, demand is steady and stable during the year which makes managing inventory relatively easy.<\/span><\/p>[caption id=\"attachment_29639\" align=\"alignright\" width=\"240\"]\"Image Millennials are now the largest generation of pet owners.[\/caption]

            The niche has become so popular that several non-pet brand companies have joined.<\/span><\/p>

            • Jazwares, a global toy and entertainment company owned by Berkshire Hathaway, has begun offering plushies and collectibles for pets.<\/span><\/li>
            • Designer brand Versace offers Barocco-style plush pet beds and Medusa-studded pet harnesses.<\/span><\/li>
            • Bloomingdale\u2019s dedicates numerous pages to its Pet Shop site.<\/span><\/li>
            • Glad, the company that brought us the Glad sandwich bag, now has Fetch for Pets, which includes pet toys, grooming supplies, pet apparel, feeding accessories, and more.<\/span><\/li>
            • Dole, known for canned fruit, has expanded its fruit snacks to pets.<\/span><\/li>
            • Arm & Hammer, the baking soda company, offers more than cat litter. It\u2019s product line includes:<\/span>
              • Tartar control dental water additive for dogs and cats<\/span><\/li>
              • Pet toothpaste with beef, chicken, vanilla ginger and banana mint flavors for dogs (tuna for cats)<\/span><\/li>
              • Doggy dental kits and more<\/span><\/li><\/ul><\/li><\/ul>

                Not to be left out, the entertainment industry has a variety of licensed pet products:<\/span><\/p>[caption id=\"attachment_29641\" align=\"alignright\" width=\"300\"]\"A Pet owners spend an average of around $1,600 on dogs and $1,100 on cats annually.[\/caption]

                • Star Wars pet beds<\/span><\/li>
                • Peanuts dog leashes<\/span><\/li>
                • Hello Kitty cat scratchers<\/span><\/li>
                • Marvel Comics dog collars<\/span><\/li>
                • Harry Potter Wand cat toys<\/span><\/li>
                • Batman dog hoodies<\/span><\/li>
                • SpongeBob SquarePants fish tanks<\/span><\/li>
                • Jurassic World reptile terrariums<\/span><\/li>
                • Barbie pet carriers<\/span><\/li>
                • And, of course, Game of Thrones cat beds<\/span><\/li><\/ul>[caption id=\"attachment_29642\" align=\"alignright\" width=\"300\"]\"German Upscale dog houses are just one of the new pet niche markets.[\/caption]

                  Pets and home improvement go together<\/span><\/h2>

                  Another reason pet products aren\u2019t a reach for most hardware stores is that pet ownership and home improvement go hand in paw. Homeowners often add fencing to keep Rover from roaming. Kennels and dog runs are often built instead of bought.<\/span><\/p>

                  Dogs and cats also bring their own special kind of wear and tear \u2013 literally \u2013 into their homes. Kitty condos and scratching posts can save furniture and drapes from shredding. Dog doors allow Fido to come and go of their own accord. And there are many products \u2013 see Arm & Hammer above \u2013 designed to clean up pet messes on carpets and upholstery.<\/span><\/p>

                  According to Lowe\u2019s, its research reflected the trend mentioned above that millennial and gen Z customers considered pet ownership a factor in their home buying decisions. It also showed that 58% of pet owners say they're more inclined to shop at a store that offers both home improvement and pet products.<\/span><\/p>[caption id=\"attachment_29643\" align=\"alignright\" width=\"300\"]\"Cute Hobby farms have turned many different farm animals into pets.[\/caption]

                  Pets are more than dogs and cats<\/span><\/h2>

                  Pets now include more than dogs, cats, fish, birds and reptiles. As many American move beyond the cities and their suburbs, they have adopted farming lifestyles and the critters that go along with that.<\/span><\/p>

                  \u201cA lot of people have hobby farms now, so we stock hay, straw, seed and feed. We offer chicks seasonally because a lot of people have backyard flocks,\u201d says Elizabeth Schreiber, manager of Rosedale Town & Country in Pennington, New Jersey. \u201cWe\u2019re a real<\/em> farm store, but about a third of our business is pets, now.\u201d<\/span><\/p>

                  The business started out around the turn of the last century as a feed mill. It evolved into a farm supply, and now it does much of its business feeding and providing products for horses, smaller livestock and pets.<\/span><\/p>

                  Rural hardware stores all over the country have similar stories. Tri-County Hardware and Farm Supply serves a trio of small towns in the Florida panhandle.<\/span><\/p>

                  \u201cYou gotta have feed because everybody around here has a cow, a pig, a chicken or a goat, and they all need hardware, too.\u201d says owner Dennis Gamble. \u201cI\u2019d rather sell a handful of bolts than a bag of seed. Bolts don\u2019t mold and go bad, but you cater to your customers.\u201d<\/span><\/p>

                  Upshot<\/span><\/h2>

                  Many hardware stores already stock feed and seed and seasonally sell spring chicks. Adding a few brands of food and a line of pet products is an easy way to get additional sales from existing customers, attract new shoppers, and create a steady stream of income in uncertain economic times.<\/span><\/p>","_et_gb_content_width":"","footnotes":""},"categories":[3,75,18],"tags":[263,266,264,265,268,267,269],"class_list":["post-29394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-posts","category-grow-your-business","category-retail-hacks","tag-american-pet-products-association","tag-bunnings","tag-crown-ace-hardware","tag-lowes","tag-pennington-new-jersey","tag-rosedale-town-country","tag-tri-county-hardware-farm-supply","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\nNiche Markets: Pet Products can be a Retailer's Best Friend - Retail Science<\/title>\n<meta name=\"description\" content=\"Adding a few brands of pet products is an easy way to get additional sales from existing customers and attract new shoppers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/paladinpointofsale.com\/retailscience\/home\/niche-markets-pet-products-can-be-a-retailers-best-friend\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Niche Markets: Pet Products can be a Retailer's Best Friend - 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