It's no secret that Covid-19 affected the global economy, but what did it do to the pet industry? Some segments boomed and others slowed, but things are roaring back in a big way in 2021! Here are three big reasons to get excited about the rest of 2021.
Travel Is Booming Back
A large number of Americans want to travel and ARE traveling after being confined during the pandemic. According to an American Express Travel Data survey, 78% of respondents specifically said they want to travel in 2021. That is nearly 250 million Americans. One trend Airbnb has identified is more local, rural, or domestic vacations. With vacations, work trips, and other travel bouncing back the pet boarding segment of the pet industry is also seeing significant increases over 2020.
Record Pet Adoptions In 2020
According to Google data, the search terms “rescue dogs” and “shelter dogs” hit all-time traffic highs a few weeks into the pandemic, and have stayed above their five-year averages ever since. People are not just researching, they are turning out to shelters, rescues, and breeders in record numbers. Shelter Animals Count, which runs a database that tracks shelter and rescue activity, looked at pet adoptions during the pandemic. The group, which tracks about 500 rescue organizations across the country, recorded 26,000 more pet adoptions in 2020 than in the year before — a rise of about 15 percent. More pets means more sales for all segments of the pet industry.
Americans Are Spending More On Their Pets
Despite the pandemic pet owners continued spending on their pets! The American Pet Products Association or APPA pet industry survey concluded pet spend went from $97.1 billion in 2019 to $103.6 billion in 2020, an increase of nearly 7%. Another national pet owners survey conducted by financial website LendEDU, found that nearly half of all Americans spend the same or more on the healthcare of their pets than they do on themselves. Of those respondents, 20% have gone into debt caring for their pets, with the average owed amount being $1,567.
Covid-19 was a speed bump for everyone, but the pet industry is pedal to the metal and shows no signs of slowing down. For information about how you can capitalize on the growth please contact our development crew or fill the our form below!
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