Global trends in a nutshell: Pet ownership internationally

Dog sharing is the new trend

Yes, 2017 is the year of the rooster, but in the sharing economy it’s also the year of the dog. Dog sharing, of course, is as much an inaccurate term as ride sharing and home sharing. These dogs are not being passed around for free. But there’s been lots of activity among startups that offer dog walking, dog watching, and other dog-related services.

Dog-sitting platform Rover acquired dog-boarding company DogVacay in an all-stock deal at an undisclosed price. Wag, the self-declared “#1 Dog Walking and Dog Sitting App for Busy Dog Owners”, has reportedly raised $19 million (€17 million) from two rounds of funding over the last two years. There’s also Fetch, DogHero, BorrowMyDoggy, HouseMyDog, BabelBark, Baubnb, and HappyTail. In 2016, the pet care market was estimated at $103.6 billion (€95.3 billion) globally, and $44.7 billion (€41.1 billion) in the U.S. alone, according to market research firm Euromonitor. Some, like Rover, are looking beyond canines. “We’re going to be taking a close look at anything that can help people become amazing pet owners despite the challenges of modern life,” Rover CEO Aaron Easterly told TechCrunch.

What’s new in retail

Innovation is at the forefront of the retailing industry as companies implement new strategies and formats to enhance customer experience. Within the grocery category, polarisation continues as shoppers are less interested in mid- market grocery products. Grocery retailers are adapting to customers’ omnichannel shopping behaviour. The key area of innovation for grocery retailers is developing a sustainable delivery model. Within the non-grocery category, achieving omnichannel proficiency is increasingly becoming a priority for retailers. Physical stores are becoming a place for experiential shopping versus transactional, which is being claimed by online channels due to greater convenience.

Within the non-store category, retailers are prioritising innovation around logistics. Retailers in the non-store category are innovating as well as partnering with non-retail companies to better serve their customers. Within the digital category, innovative concepts are focused on mobile commerce in the context of omnichannel retailing. Innovations that focus on providing seamless and personalized shopping experiences that integrate both physical and digital realms are likely to prevail.

Trends in pet supplements

When people think about pet health, the focus of attention is usually on pet medication and pet food.

However, pet supplements are increasingly relied upon by dog and cat owners to help their four- legged companions live longer and live better. Packaged Facts estimates that from 2012 to 2016, pet supplement sales managed a compound annual growth rate (CAGR) of almost 4%, with sales of $580 million (€534 million) in 2016. Dog owners purchase the majority of pet supplements, buying three times as much as cat owners.

Here are Packaged Facts’ five other important trends shaping the pet supplements market:

1. Joint health, digestive health, and condition specific supplements have the potential to compete with formulated pet foods and treats.
2. Supplement marketers have begun addressing the issue of palatability.
3. Cat supplements offer more than hairball relief.
4. For natural pet supplements, turmeric/ curcumin crosses over from the human market.
5. Cannabidiol supplements generate interest,and pose problems.