Proof of the recession-resistant market is PetSmart , whose stocks from the beginning of 2009 have risen 21%.
PetSmart beat expectations by controlling expenses and driving traffic to its stores through sales and other promotions, according to analyst Mike Baker, in addition to the need-based nature of petfood.
"We are executing well despite the economic climate and continue to define the pet specialty customer experience," chairman and chief executive Philip Francis told analysts in the article.
New shelter data casts doubt on whether the pet population and pet ownership are truly growing.
While the pandemic caused unprecedented suffering worldwide in 2020, the disruptions to dogs, cats and other pets adoption numbers may normalize in 2021.