Robert W. Baird & Co. Inc. recently released survey results about the pet vendor and retail markets during the first quarter of 2011.
The pet supplier retail survey found that through the first quarter of 2011, sales were in-line with expectations, with 38% of retailers reporting better-than-expected sales and 26% reporting sales short of expectations. For the second quarter of 2011, 85% of retailers expect to see an increase of sales, with most retailers forecasting growth between 4% and 6%. Those surveyed in the pet industry also said that petfood is the main sales category in stores and that consumers are willing to pay more for premium-grade food for their pets.
The pet supply vendor survey also found that sales in the first quarter 2011 were higher, as 63% of vendors surveyed reported better-than-expected sales and only 18% reported sales below expectations. The majority, 91%, of vendors surveyed said they expect sales growth during the second quarter, at an average rate of 7% to 9%.