Offering Pet Owners a Line of Credit for Pet Needs Leads to Increased Sales
Would it surprise you to find out that Americans spend billions of dollars a year on their pets? The way pet owners approach their animals is changing, and there are more households with pets today than ever. What is your business doing to capture some of this revenue? Establishing a line of credit for your target audience can help to improve your financial position.
According to the American Pet Products Association’s (APPA) 2013-2014 survey, 82.5 million households in the U.S. now have at least one pet. The U.S. Pet Ownership & Demographics Sourcebook claims that each dog will incur around $200 in vet expenses per year, while cats average around $80. However, that’s only part of the picture. The APPA says $23 billion is spent on food and $14.3 billion on supplies. There are opportunities for pet retailers and veterinarians to capture some of this revenue.
Pet ownership continues to grow. For instance, the APPA’s first survey of its kind was in 1988 when only 56 percent of households in the U.S. owned a pet. Dogs and cats account for the bulk of pets in households today, but the National Pet Owners Survey found that there are 12 million households with freshwater fish, 6 million with birds, 2.5 million horses, 4.9 million with reptiles, and 5.4 million with “small animals.”
Getting a bigger share of the $60 billion being spent on animals today could include a few in-house improvements, like marketing. You don’t have to spend a large amount of money on marketing to see some success. For instance, have you developed a social media strategy? If you are short on staff knowledgeable in social media best practices, hire a consultant to get you started and show you how to maintain a strong social media presence.
Improvements in customer service can drastically improve your productivity. Make sure everyone on your staff is educated in customer service techniques that make them feel valuable. This alone can separate you from your competitors.
Consumers today have options in how they spend their money. Many businesses are seeing improvements in cash flow once they establish a line of credit for their clients. For consumers who are faced with an option to do business with a company that offers a line of credit and one that doesn’t, most will go to the one with the line of credit.
The HELPcard is an organization that specializes in consumer financing programs for consumers with A, B and C credit. Our solutions help our clients increase their cash flow through programs that offer consumers low monthly payments. Experience shows that our solutions increase sales and grow businesses. Our application process is easy and our line of credit for consumers gives them the ability to purchase more products without having to reapply. Contact us today and we’ll discuss a personalized approach to your business.