April Veterinary Article - Supermarkets target Pet Care Sector
Supermarkets target Pet Care Sector
Supermarkets are in a prime position to cash in on the British love for their pets; but first they have to convince pet owners that their stores do have the credible offers their furry family members deserve.
Pet owners are today increasingly caring for their pets in much the same way as they do themselves — and their children. Not only are they bestowing their animals with the same names they might choose for their offspring — with Molly coming in as the top pet name in a recent survey by Virgin Money Pet Insurance — they are likewise treating them, insuring them, pampering them, and even feeding them with foods which at least in name, bare a resemblance to the finest human fare.
This growing culture of pets as family members is responsible for the increasing market for pet care. Currently worth around £3.6bn, (AC Nieslen data provided by Masterfoods, 52 w/e 16 April 2005), the market is broadly split into three distinct areas: pet foods, treats and accessories; veterinary bills and kennelling costs; and insurance.
The key area as yet not exploited by the main Supermartkets is Veterinary services. The trends suggest that there is greater “recession resistance” in pet related areas and therefore investment at the current times will still pay dividends in gaining and retaining client base. For advice on developing your practice call Sue Dent at Ken Rand Partners on 0844 357 8485.
