Aside from your typical dog or cat, there are many different kinds of options for the average American consumer. Lizards, guinea pigs, hamster, fish, birds, frogs, and even hedgehogs are available for purchase in most states. With this increased variability in household pets, many pet stores and breeders are looking to maximize their profits by offering a large selection of animals, including exotic species that most Americans have never even heard of before. Although there is a long list of animals that cannot be bought and sold, there is an even longer list of animals that are highly sought after in the household pet market.
As an industry, pet shops and breeders must pay great attention to product differentiation – how much cuter, bigger, cooler, or healthier their animals are could mean the difference between success and bankruptcy. Stocking many different kinds of options will allow for the stores to better target segments that may have a larger concentration of millennials and X-Generation individuals. These demographics are younger, and therefore predisposed to want a pet that conforms to social trends. Individuals who were born in the baby boomer generation won’t adhere to social trends like this as much, preferring to own your standard dog or cat.
Unconventional Pet Additions
Unconventional pets have just started to enter the market. A popular example is the hedgehog. Although this cute animal has been available for purchase for a long time, its quantity demanded has just recently exploded due to tits online popularity and growing subculture. Many social media personalities from other industries now own hedgehogs, giving rise to its recent popularity. In order to capitalize on this trend, shops and breeders need to make sure that they can provide a great amount of quality hedgehogs, along with the necessary components used for care and maintenance. They also have to make sure the customer does not return the hedgehog by offering greater incentives to keep the pet after its purchase. Hedgehogs are nocturnal animals, and are difficult to train as pets. Without accompanying tools to train and/or handle the hedgehog, there is little incentive to keep it. Pet stores and breeders should pay attention to this variable while managing their inventories respective of other pets and products.
With this added inventory of actual hedgehogs comes the added inventory of hedgehog related products. These products include hedgehog food, cages, cage accessories, training guides, rodent balls, and others. Giving the customer a monetary incentive (alongside the practical incentives) to invest in these products will increase profit margin immensely. For example, offering a free hamster/rodent ball with the purchase of a hedgehog cage will help the consumer perceive a greater value than before. This higher perceived value may translate into more hedgehog product purchases in the future, and more reasons for the consumer to keep their hedgehog. Food can get very expensive, as hedgehogs eat a lot – having some sort of loyalty system with pet food can add to this value. With this strategy in mind, the hedgehog will undoubtedly prove to a very profitable product to pet stores and breeders alike.
So, I may be biased because my favorite pet is dogs. I own a few dogs and my girlfriend’s favorite thing in the world to do is to go visit the new puppies at Palm Beach Puppies! She just loves it. But dogs needs are a lot different than hedgehog needs. A hedgehog only needs a small cage and it is happy. Depending on the size of the dog, you need a large yard for them to run and frolic in and enjoy their life by getting lots of exercise. By the way, if you need one of the best fence companies West Palm Beach be sure to give my friends at fence builders a call. They took care of fencing my yard for my dogs and we are so happy with how it turned out. We can now let the dogs out at any time and not worry about them getting out! It makes it so convenient for us!
Well that’s it for now! Be sure to ping me if you have any pet related questions or shoot over to the contact us form! 😉