Create Long-term Customers by Concentrating on Consumer Trends and Financing Options
The market for the pet industry has tripled in the last 20 years as the money pet owners spend continues to increase. As you watch consumer trends in your industry and what pet owners are spending their money on, what can you do to pull in more business from those pet owners?
The American Pet Products Association reports that in 2012, pet owners spent $53 billion on pet-related purchases. While Americans were still feeling the pinch from the Great Recession that began in 2008, pet owners continued to spend. How can you ensure that you bring in a share of that business to your store?
Trade shows are booming with new products that are guaranteed to attract impassioned pet owners. Animal-themed jewelry has become a go-to item for many retailers for the simple reason that it’s extremely popular with pet owners. You can add hand carved/painted jewelry, such as necklaces, bracelets, or key chains that are designed with specific breed themes. And as a bonus, jewelry won’t take up much space in your shop.
While pet apparel such as sweaters, t-shirts and coats will take up more room, there are many styles from which to choose and fun for pet owners. You can rotate out seasonal apparel and always have updated options for you customers.
The health movement is also affecting the pet industry. Pet owners are seeking out healthy foods that will prolong the life of their pets instead of working against them like many grain-heavy food vendors offer. Furthermore, they’re looking for natural foods that will improve their pets’ quality of life. The consumer trends for natural products, including toys made out of safe, recycled materials, is also strong right now, which means it’s prime time to devote an area of your shop for natural treats, foods and accessories.
You should also consider consumer trends related to how consumers spend their money at the checkout counter. Consumers today are looking for options when it comes to how they spend money. They’re increasingly doing business with shops that offer consumer financing. What’s important to remember about consumer financing is that when store owners implement such a service, they see more customers buying more items at once, and they become loyal customers.
At The HELPcard, we’re a company that offers excellent financing programs that fit a number of different industries. We also cater to prime and near-prime consumers. Contact us today and let’s discuss your business opportunities.