Americans love their pets. The percentage of U.S. households that own a pet has grown from 56% in 1988 to 67% in 2019, according to the American Pet Products Association (APPA) National Pet Owners Survey.
U.S. sales of pet products and services hit a record $95.7 billion last year as it’s estimated sales will grow to $99 billion this year, according to the APPA.
Pet Food & Treats accounted for $37.9 billion, or nearly 40%, of last year’s total sales and is expected to grow by another 4% this year. Vet Care & Product Sales accounted for another $29.3 billion of the total as the APPA called it a “significant jump from previously reported spending figures.”
With Americans increasingly bringing pets into their homes, Walmart announced yesterday a bigger push into the pet industry with the launch of Walmart Pet Care. Walmart Pet Care is a full-service pet care offering giving customers the ability to shop for additional services such as pet insurance and pet care services like dog-walking and pet sitting.
Walmart is teaming up with pet insurance provider Petplan to offer comprehensive pet insurance that can be used at any licensed veterinarian in the U.S. and Canada. Walmart is offering new customers $1,000 worth of online virtual vet appointments at no additional charge. Walmart Pet Care also offers Walmart PetRx, which is Walmart’s in-store and online pharmacy service for pets.
“We’re on a mission to help families live better – and that goes for pets, too,” Walmart Pets vice president of merchandising Melody Richard said. “Especially as adoption rates soar as a result of the pandemic, and more people become pet owners, this was the perfect time to launch expanded services in Walmart Pet Care for our customers.” [ … ]