This may sound like an obvious statement. PetCare is one of those categories you only really understand when you own a pet.
I’ve been a dog owner for the last 17 years and worked with quite a few pet businesses. It’s a category I know well.
So I was rather surprised Goldman Sachs, purveyor of intricate financial instruments, has waded into the pet business.
Without question there is much mileage to run in pet. Even in the most developed markets, a maximum of around 40% of households are owners.
Pet owners are generally wealthy. In Asia you generally need to be a house owner, at least if you have dogs; some apartments restrict pets.
Calorific coverage, the amount of commercial food consumed by pets is far below the pet population. Many owners feed expensive treats, not to mention table scraps.
There are many similarities globally for marketing pet goods. Recommendation from influencers is key, owners increasingly obsess with nutrition.
However there is one big difference, Asia is all about small and toy dogs.
I will end with another obvious statement. Toy dogs of course eat far less than big breeds.