2022 is expected to be the year that “bark-itecture” becomes a big trend. That’s according to Pinterest, which says that anyone who has a pet will be transforming their home into the perfect pad for our pets this year.
It sounds silly, but when you consider how pet ownership hit a new all-time high during the pandemic, you can see how this could well be a reality.
After all, as we all know, a pet is for life, not just for lockdown. The 3.2 million households the Pet Food Manufacturers’ Association says bought a new pet in the last two years means this is a pandemic spike that doesn’t plan to go into reverse.
And that must be a win for the companies that are part of the multi-billion dollar pet industry here in the UK, where there are even rumors of couples increasingly deferring ‘real’ babies for ‘fur babies’. The fact that 16-35 year olds make up 59% of all new owners only lends weight to this theory.
The Pets at Home Group (PETS) knows they’re on the right track here. These pets require long-term care and Pets at Home’s decision to invest heavily in expanding its additional pet care services immediately after lockdown was a very smart move.
The company, which is the UK’s largest pet supplies retailer with more than 450 stores and 300 veterinary and grooming salons nationwide, saw its pre-tax profit rise 81.3% to £70.6 million in the six months to October 7 Pound Sterling Pampered Pets grew grooming services sales by 62.2%.
In fact, all areas of the business including food revenue, which grew 21.4% to £336.7m, and accessories, such as dog toys and training aids, grew 20.9% to £257.7m. While the veterinary part of the business saw a 26.2% like-for-like sales increase, total sales fell 14.7% to £56.8m due to the sale of Pets at Home’s veterinary hospital business.
Pets at Home isn’t the only winner here. All of the companies involved in the thriving pet supplies industry – from food manufacturers to veterinary practice operators – are booming, as we discover here.