Pet Owners Are Spending More Online, Report Finds
Online sales of pet products continue to grow, and a new report from market research firm Packaged Facts indicates that by 2023, these sales will account for more than a quarter of overall spending in the pet market.
Online sales (defined as any sales that originate online) of pet products are estimated at $11.4 billion in 2019, or 21 percent of the market, ramping up from $9.5 billion in 2018 and $3.2 billion in 2015, according to Packaged Facts’ recent report U.S. Pet Market Focus: The Amazon Pet Food and Supplies Shopper, 2nd Edition. Packaged Facts projects the internet share of the pet products market will reach 26 percent in 2023.
“E-commerce success with pet products, primarily from Chewy and Amazon, has permanently made the pet products market omnichannel,” said David Sprinkle, research director at Packaged Facts. “This transformation has been sealed by current online strategies of brick-and-mortar based retailers such as PetSmart and Walmart and of specialty brands and products.”
Packaged Facts estimates that among pet-owning households that buy pet products online, average annual spending over the internet on these products will be approximately $744 in 2019—nearly equating to the $771 in average annual spending on pet products among U.S. pet-owning households overall.
Internet shoppers are buying pet products online more than they used to—with 43 percent buying through pet specialty websites such as Chewy.com, and 41 percent buying pet products through general websites such as Walmart.com, the report found.
Beyond the convenience and appeal of the internet’s “endless aisle,” more pet owners are choosing to purchase products online because they believe the internet can be used to save money, especially with price comparisons, according to the report. Almost half (49 percent) of internet shoppers for pet products surveyed strongly agree that they are looking out for lower prices, special offers and sales, compared with 44 percent of pet superstore shoppers. Further, online shoppers are also adding more to their carts: 36 percent of respondents who shop online for pet products said they are spending more than they used to on their animal companions, compared to 30 percent of pet superstore shoppers reported an increase in spending.
“The data strongly indicates that the rising internet share of the pet products market is not due for a leveling off in the near future,” Sprinkle said.