Animal owners, particularly those currently in the bay area love to pamper their pets, even with the current downward trend of the economy. The San Francisco pet supplies and services industry is one of the few industries that has grown in the last few years, unlike those that serve their human owners. The niche for pet supplies has remained relatively unaffected by the weak housing sector, high unemployment and diminished 401(k)s, continuing to grow through the recession. In 2010, Americans invested $55 billion on their pets based on the market research firm Packaged Facts.
Folks are usually cutting back on their sumptuous luxuries and expenditures, and they are more mindful when it comes to spending money for themselves; however, only a few pet owners do the same for their pets like their Bay area pets. They carried on to offer their dogs high quality and premium food as well as supplying them the best veterinary care possible (which contributes to the 7 percent incline in veterinary services in 2010, as reported by the New York Times).
Though spending hasn’t plummeted, it has been dedicated to a few categories, like significant things such as leashes/collars, beds and food. At the 2011, Global Pet Expo in Orlando, Florida, pet food took over. There were a lot of vendors who endorsed human-grade pet food, alkaline-based foods aimed to prevent cancer, organic blends and meals that were already packaged for pets that were underweight and raw diets. Unlike garments or specialty hygiene products, pets like the Bay area pets need food to survive and many animal lovers believe that a premium food extends the life and health of their dogs, helping avoid pricey vet bills.
Whilst the San Francisco pet supplies and the veterinary business have also observed the growth, the 7 percent increase that was reported by the New York Times is motivated by the increased longevity of the pet population. Human medical technologies like CAT scans and cancer treatment options like radiation and chemotherapy are increasingly being used on companion animals. Pet owners are also asking that their pets receive the same standard of care that they do, and with developments in technology, San Francisco service and pet supplies providers, like kennels, high end retail stores and dog boarding facilities, and veterinarians are able to deliver such services.
In addition to this, pet insurance plans are surging in recognition, with many firms presenting plans in a myriad of brand names. As expected by the Small Business Trends, this industry is estimated to boom to $600 million in 2013.
Why is it that the niche for high-quality pet services and vet care continue to increase, even in times of economic crisis? The reason is because pet owners are shopping for animals that they think of their children. Luxurious beds, high-quality foods, toys and collars, have a major impact on the health and convenience of a pet, together with vet care and other San Francisco pet supplies and services that they are able to enjoy. Today, individuals are investing in their pet’s standard of living like Bay area pets.
