Consistency of spending and resilience during economic downturns: Spending on pets is a necessity and most customers purchase frequently and in regular intervals. The pet industry is one of the most resilient categories during economic downturns because of the nature of the pet parent / pet relationship. For example, during the recession of 2008 to 2010, overall consumer spending in the United States declined while pet spending in the United States increased by 12%, according to the APPA. In 2010 alone, spending in the United States on entertainment fell 7.0%, food fell 3.8%, housing fell 2.0% and apparel and services fell 1.4%, according to the U.S. Bureau of Labor Statistics, while spending on pets rose 6.2%, according to the APPA





Pet Care Is a Fragmented Industry



https://www.sec.gov/Archives/edgar/data/17665...122ds1.htm