Our pets may be small, but the impact they are making on the growing eCommerce market is enormous. As the pet supply industry continues to get bigger, Amazon’s marketplaces remain on top of it all. Brands that are looking to leave their pawprint on the pet supply industry should stay apprised of its current trends.
Any member of our Bobsled team will tell you that keeping up-to-date with market trends is a critical component of growing your brand. This is the advice that has given us recognition on the Inc. 5000 list and with Business Insider, and it’s the same advice that Bobsled Marketing expert Lindsay Baker will share with you today. From new consumer behaviors to increased product demand, the top trends of Amazon pet supplies will help you secure your brand’s position on top of this valuable industry.
See why our product sales advice has given us a shout-out by Amazon Advertising!
The online pet supply market has been growing rapidly over the past couple of years. No doubt the pandemic has played a part; a recent Consumer Reports survey reported that 57% of pet owners in the U.S. purchase their pet products through Amazon more than other online stores.
Above: Pet industry expenditure in the U.S. from 1994 - 2021 from statista.com
Not to mention, these same shoppers expressed a “high degree of satisfaction” with Amazon’s prices, delivery speeds, and usability of the website overall. It’s quickly becoming the most convenient and affordable way to purchase pet products. While a lot of pet owners miss being able to take their pet to a retail store, they also recognize the ease and safety of shopping online.
Consumer trends move fast, especially when it comes to favored pet supplies. There are five major trends to be considerate of when looking to boost your results on the Amazon marketplace. Take a look!
The pet industry has a steady and continuous YOY growth with approximately $103.6 billion being spent on pet supplies in the United States by the end of 2020. According to Nielsen Scan, over $109 billion is expected to be spent by the end of 2021.
Out of that money spent, 40% of it is on pet food and treats alone. Amazon is dominating the online pet product sales markets, accounting for nearly 30% of all pet supply sales in the country.
In addition to the convenience that online shopping offers, consumers can benefit from purchasing their products on Amazon when faced with discounts and bonuses from their favorite pet product suppliers. Most pet food brands are offering Subscribe and Save options, giving even bigger discounts on quality products.
Speaking of high-quality products, there is a growing demand specifically for products of good quality. Millennials are a large percentage of pet owners who shop online, and they are willing to pay a higher price for food, supplements, toys, and beds that are of better quality. As more brands emerge in the pet supplies space, we’re seeing more and more identifying as offering “premium”, “organic”, or “all-natural” ingredients.
Above: Looking at the top sellers on Amazon today, all are targeting a specific problem or need (natural ingredients, sensitive skin, probiotics, etc.)
The increase in these types of products relates to the increase in demand from pet owners who seek higher quality and less “processed” food options for their furry friends. This all-natural trend has also carried over to non-edible products like toys. Owners have started demanding that the products going into their pets’ mouths should not be made with toxic materials.
There is a noted increase in interest in luxury items such as apparel and accessories. Pet owners in search of coats, costumes, and booties will often be found searching through the Pet Apparel subcategory on Amazon. One Bobsled brand has seen 65% growth YOY in Pet Apparel products alone.
While researching pet supplements for another brand, specifically one meant to curb anxiety and nervousness in dogs, our research showed $8 million in monthly revenue - which was captured by just 8 competitors in this space!
Staying updated on these latest trends can help you achieve a bigger bottom line while you ride the wave of a growing pet supply industry. Amazon continues to be a leader in the online retail space; if you are looking to push your brand as a top seller of pet products and supplies, make sure you know which trends to follow.