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Pet Product News Editorial Blog:

Being Lucky

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It’s getting increasingly difficult to process all the news related to pets and the recession lately.

A blog written by Mary Corey, an editor at the Baltimore Sun, reports (using Associated Press data) that only one in seven pet owners is cutting back on the amount of money spent on pets. Sounds like good news for pet boutique owners, right?

A piece in yesterday’s New York Times discusses the phenomenon of families (some apparently with significant means) abandoning their pure-bred, expensive dogs because of lost jobs or unexpected moves. Other families have cut back on grooming, boarding and daycare expenses for their pets, the article says.

You may be hearing about pet boutiques in neighboring towns closing because of economic stress. At the same time, the American Pet Products Association is estimating that pet spending will be up $2.2 billion this year over last year, totaling $45.4 billion. How can you get a piece of that pie? Is most of it going to the big pet stores or are consumers still likely to shop in boutiques given the right set of circumstances?

It’s certainly clear that this economic crisis is magnifying the stress many businesses were already under. Mounting debt that last year seemed a little overwhelming may have become a disaster as credit limits go down and interest rates go up.

Many people outside of our industry and in it have been finding themselves happier with their jobs than they were a year ago, despite the fact that they didn’t get a raise this year and benefits are being slashed. Why? Because of that sentiment we’re hearing everywhere: “I’m just glad I still have a job.”

Pet boutique owners can seize the wisdom of this outlook by looking at customers as their “bosses” and doing whatever it takes to keep them spending so the paychecks can keep coming. Do you have a big parking lot? Offer to carry big bags of dog food out to your customers’ cars. Do you currently open at 10 a.m. and close at 5 p.m. on weekdays? Maybe consider opening early one day so people who work outside the home can come in and make their purchases when it’s convenient for them. You don’t have a customer appreciation program in place already? Start printing those punch cards and offer customers $10 in store credit for every $200 spent, or whatever works for you.

This is the time to go the extra mile, whether you work on an assembly line or you’re trying to keep your pet boutique open. The more you get creative and learn to anticipate the needs of your customers or your boss, the better off you will be. Differentiating yourself from the competition is key.

I know running a business in this climate can be unbelievably stressful, but don’t let the bills and the tension make you forget the creativity and the personality that make your shop special. Treat your customers like your royalty and they’ll remember and appreciate the experience of spending money in your store and they’ll come back.

And if the stress gets to be too much, pet the dog!

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