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 Industry Insight No Longer Such A Well Kept Secret By Bob Vetere Managing Director & COO, APPMA
In the space of the past four weeks, the Today Show has run two segments, the CBS Early Show each ran a segment, ABC World News Tonight ran a piece featuring APPMA, US News and World Report ran a piece about Global Pet Expo and The Wall Street Journal ran an article on the industry. This is in addition to the numerous articles run in everything from the LA Times and Washington Post to the East Nowhere Gazette Sun Journal. The word is out and we all should be ready to take advantage of it. A few weeks ago, I was asked to speak at the Bear Stearns Retail Investor Conference held at their World Headquarters in New York. Not only was the room filled but I have been asked to come back again because so many interested individuals could not get into the meeting. I am frequently contacted by investors looking for advice on how to invest in the industry. Other traditional human product companies are also getting very interested in what is happening. After all, it is we humans making the buying decisions. My Golden Retriever has yet to come to the store with me and point out the things he wants to buy. I am making the choices. You would be hard-pressed to think of a product normally thought of as for humans that can’t be adapted for pets in some form. If Gucci, Chanel, Burberry, Hasbro, Land’s End, Sharper Image and the like can up their investment in pet products it says a lot for the stature of the industry. What happened? More and more people are turning to pets for companionship. Whether it is an empty-nester whose kids are now out of the house, or young professionals who want to pursue a career before building a family, or work at home individuals who have very little contact with co-workers, or people who are disabled or seniors or on and on there is a large list of people who rely on pets for more than just fetching the newspaper. Their pet is their extended family. They need and want the products that we provide to make it easier and more convenient for them to enjoy their animal companion. We are certainly fortunate to be in the industry we are in right now. Sorry I helped let the secret out. |
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