The Business of Pets Is Booming

New York, NY, January 6, 2023-About 23 million households have brought pets home since the pandemic began, reports the Wall Street Journal.

“Spending to pamper them is one of a few areas of the economy managing to defy inflation and avoid a post-lockdown pullback.

“As a result, some companies that normally cater to humans are high-tailing it to pets.

“Hilton Worldwide Holdings Inc. is adding hundreds of hotels where animals can stay the night. It offers virtual ‘pet expert teams’ to address health and behavior issues they might have while traveling, teaming with Mars Inc., the parent of veterinary operator VCA and Pedigree pet foods.

“Snack-bar maker Clif Bar & Co. this summer started selling a line of jerky treats for dogs. Global food giant Mondelez International Inc. took over Clif in August. More pets and growing demand for all-natural dog food prompted the move, a spokeswoman said.

“Petco Health & Wellness Co. gets dozens of proposals from companies looking to adapt their products to animals, said Chief Executive Ron Coughlin. Not all the ideas are fully baked. He passed on bringing acupuncturists to the company’s stores.”

Pic: Image by wayhomestudio on Freepik.