The Economic Impact of Independent Pet Retailers
A single pet retail store can have a major impact on the local economy.
Do you want to know how your pet retail business contributes to your local economy? Contribution can be measured in total dollars, jobs, household income, and taxes and other revenues generated from your stores’ activities. The overall pet industry represents a significant segment of the U.S. economy and independent retailers are an important and growing part of it.
In conjunction with The Center for Economic Analysis, Michigan State University, and sponsored by the American Pet Products Association, the Pet Food Institute, the Pet Industry Distributors Association, and the World Pet Association, The Pet Advocacy Network has published the 2021 Economic Impact of the U.S. Pet Sector.
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Here are the highlights: The total U.S. pet sector contributes $260.5 billion directly and indirectly to the U.S. economy. It accounts for 2.78 million jobs and generates $23.40 billion in paid taxes. The study estimates that 84.9 million households in the U.S. have at least one pet and spend $93.95 billion on their pets. The study shows that Americans spent $50 billion in 2021 on pet food and treats. And 23 million U.S. households brought home a new pet between spring of 2019 and summer of 2022.
The Independent and Neighborhood pet retail segment of the pet industry represents 10% of the total industry[1]. In big round numbers, our segment represents about $9.4 billion in household spending on pets. That is significant.
If you would like to take a closer look at the data and see the economic impact of pet retail by state, visit the Pet Advocacy Network’s State Economic Impact infographic.
Knowing your impact on your local community can mean many things to you, your employees, and your local partners. We help you back up your knowledge with data.
[1] 2021 Packaged Facts U.S. Pet Market Outlook
