Garden Grove, Calif. (Vocus) March 2, 2010
Consumers across the nation are reigning in their expenses because of tighter wallets, but that does not stop them from spending more on their pets than ever before. For PetStore.com, the struggling economy and increased sales are intertwined.
"A lot of people are staying at home more with their pets," said Mike Giove, chief operating officer for PetStore.com. "By spending more time with their pets instead of going out, many people are thinking of them as family. They are buying little indulgences for their pets that they cannot justify for themselves."
This increase in spending applies to expensive pet food as well as dog supplies and toys. The natural and healthy pet food market has more than doubled since 2005, currently sitting at $1.5 billion. According to market research firm Packaged Facts, the market is expecting to hit $2.6 billion by 2014.
The emphasis on healthy cat and dog food perhaps stems from expensive veterinary bills.
"Vet bills can get especially high, and pet owners are now taking a more preventative course," Giove said. "By buying more natural foods, it might cost more initially, but the payoff is greater."
During hard economic and challenging times, many pet owners rely on the non-judgmental and emotional support of their pets, according to a survey by independent agency Catalyst Direct. With the economical outlook of the nation poised on recovery, many pet owners are rewarding their pets who have faithfully stood by them through thick and thin.
Many clients of PetStore.com have expressed similar feelings. The pet accessories store has had a record year in 2009, with more than a 200 percent increase in sales from 2008. They also offered more than 26,000 products, 6,000 of which have only been added within the past three months.
"Spending in the pet industry has increased, and we love that people are taking such good care of their pets," said Ken Wong, chief executive officer of PetStore.com. "We really love what we do, so it is great that people spread that love to their pets."
PetStore.com prides itself on great prices, wide selection, speed of delivery and superior service. Ninety-seven percent of orders are shipped the same day. The company was designed with the intention of providing not only the best products at the most competitive prices, but to become the number one provider of pet products, education and information. Petstore.com has one of the most active online communities of pet owners on the Internet today. Inside the pet forum, there are a broad range of subjects discussed with new topics being added every day.