Innovating in the pet industry

I am often asked what trends I see coming and what direction the industry is going. My predictions are as follows.

Consumers will continue to diversify the way they feed their pets. For dogs specifically sous vide and raw diets will continue to see market share growth. Human-grade ingredients will become the norm. More and more pet parents are concerned with variety as well as safety, health, and palatability. Even those consumers who have chosen to stick with kibble seem more eager than ever before to try something novel as a topper or add-in to entice their pet. I believe there will be an outcry for tightening food safety standards around pet food, and that sustainably and ethically sourced products will continue to see slow steady growth over their less eco-friendly counterparts. The buying side of the leash has become more concerned with how they are spending their dollars. They are expecting more of a higher quality for less- but will pay a surcharge to feel good about the ethos of the food brand they choose.

This trend towards safety and health will bleed over heavily into the services industry where I see enrichment-based daycare models as becoming the norm rather than the exception. Owners will continue to spend heavily in the services arena, now seeing daycare as a 'must' instead of just a 'nicety'. This bodes well for dog daycares who can adopt an enrollment model. While the initial setup might seem daunting, the recurring payments and steady revenue streams are sure to please. Dog boarding goes hand in hand with daycare and owners will factor in 'vacation spend' for their pet's stay at a luxury facility if it gives them peace of mind. Dogs are evolving more and more into family members. The Veterinary Emergency Group has a leading edge model which I think exhibits this well. There are no 'back rooms' you are with your pet the entirety of the visit, with the medical professionals walking you through each step and procedure with a great deal of empathy and compassion. Businesses that understand the dog as the extended family member(and sometimes favored family member over others) will have an answer for the client's every wish before it's even spoken. Cameras to check in on Fluffy? No problem. Holiday-themed meals, check. Turn down service with a bedtime story? You bet.