WPA Offers Must-Have Resource
For independent pet retailers, we know that every dollar counts. That’s why, in addition to producing world-class events, World Pet Association (WPA) supports the industry by creating a one-of-a-kind resource that helps you keep your competitive edge in the marketplace. By comparing your data with other independent pet retailers, this valuable tool helps you address top concerns such as standard ordering practices, uncovering unique value in your product offerings, and benchmarking your revenue and expenses against similar businesses.
The 2018 World Pet Association Retail Operating Performance Report will present a detailed analysis of key operating data from the retail pet industry. Based on confidential surveys from retailers like you, the report includes a compilation and analysis of retail sales and operations data. Responses come from all sectors of the industry—pet retailers with animals, pet retailers with dry goods only, grooming stores with retail supplies and more. They also include store locations in communities ranging from major metropolitan areas to small cities and rural areas in all regions of the U.S. Data is segmented by sector so that you can evaluate your business against others similar to your own quickly and easily. Last year’s report provided industry nuggets, including:
- The typical business reported sales growth of 5.3 percent in 2016 versus 2015, and forecasted sales growth of 5.8 percent in 2017.
- The typical business spent 1.7 percent of its total revenue on advertising and promotion.
- More than 75 percent of pet stores with animals did not allow ordering through their own website.
- The median price per sales transaction in 2016 was $34.94.
The report also includes a companion online tool that provides customized purchasing and financial recommendations for businesses. For example, you can enter settings indicating business type, number of employees, store location and other criteria in order to see comparisons to stores exactly like yours. It puts competitive data at your fingertips for free.
“I love the option to customize online because it saves so much time digging through a report for the right data point,” said Patrick Donston, owner of Absolutely Fish in Clifton, N.J. “It’s the type of support every pet retailer dreams of having.”
The Retail Operating Performance Report is such a valuable tool because of the support we get from pet retailers each year. The more businesses that complete surveys, the more accurate the data and the better baseline you have to gauge your business results. Plus, every retailer who takes the survey is guaranteed to receive a free copy of the final report, saving you hundreds of dollars and countless hours versus consolidating this information on your own.
“The survey was easy to complete, and the whole process, including the financial documents, only took 15 minutes,” Donston said. “A small price to pay for the wealth of information we receive in return.”
Participate in the industry’s only benchmarking survey. Submit your data and receive a complimentary copy of the WPA Retail Operating Performance Report upon publication (a $495 value). All answers and financial data are completely confidential.
Complete the online survey by July 15, 2018, at worldpetassociation.org/wpa-retail-survey.