The Surprising Data Behind “Thrivers” and “Strugglers” in the Pet Industry

What makes some pet businesses thrive while others struggle? That’s exactly what the annual Pets+ Big Survey set out to discover. After diving into the data  from over 500 pet business owners, some fascinating patterns emerged that might even surprise you! 

Pet Boss Nation CEO and founder, Candace D’Agnolo  has the honor of participating in the analysis of the Pets+ Big Survey, and in this blog post we’ll share some unexpected data findings, highlights, and, maybe most importantly, some takeaways for how you might approach your business differently based on the results!

Before we dig into the juicy pet industry data here’s some context: 2023 was actually a strong year for many pet businesses, with 36% reporting it as one of their best years ever. 

But what makes it most interesting is what separated the “thrivers” from the “strugglers” wasn’t always what you might expect!

Minding your money in your pet business

One of the most striking differences? It’s all about how business owners approach their finances. Thrivers consistently review their numbers weekly, while strugglers often avoid looking at their financials altogether.  Think about it this way– not regularly checking your pet business’ finances is like driving a car with your eyes closed! You’ll get… nowhere fast (or safely!😬) 

The bottom line is that financial management is just as important as the things you LIKE doing in your pet business. Mastering your numbers, whether through business education or working with a consultant, will pay off immensely in the long run. Approach your finances with the same dedication as you do caring for pets because your business’s health depends on it! 

Marketing spend and consistency for pet businesses

Here’s something that might surprise you! Successful pet businesses aren’t necessarily spending tons more on marketing. They’re just spending smarter. 

While thrivers typically invest 1-2% of their revenue in marketing, it’s not just about the amount. It’s about being consistent and using strategy to stretch those marketing dollars! 

So why aren’t the strugglers spending as much on marketing? Maybe they’re hesitant to increase marketing spend due to tight cash flow. But remember, even a modest boost of 1-3 percentage points can increase your revenue! Digital ads, SEO, and email campaigns are relatively low-cost ways to reach new customers.

The key is to test, track, and pivot from there! Try different marketing channels, analyze the results, and double down on what works. Consistent, strategic marketing will pay off more than sporadic, untargeted efforts. Invest in building your brand awareness and customer relationships because it’s an essential ingredient for your pet business’s long-term success! 

The power of community and building brand loyalty

Another important takeaway from the survey is that thrivers are more likely to be utilizing the power of community engagement! Thrivers aren’t just selling products or services– they’re creating experiences and building relationships. They maintain strong Google ratings, engage effectively on social media, and run creative loyalty programs that keep customers coming back.

Customers today want more than transactional interactions. They want to feel connected to the businesses they support. Thrivers understand this, and they go the extra mile to be interacting, engaging, and building programs to support customer loyalty. Things like in-store events, social media conversations, and personalized loyalty programs help foster that sense of community and keep customers loyal.

A shocking operations game-changer 

Ready for a shocking statistic? 31% of even thrivers rarely or never hold staff meetings, and strugglers are even less likely to hold them! 

Regular team meetings aren’t just about updating staff– they’re about building a culture of communication and collaboration. Staff meetings allow you to align your team, gather feedback, and foster a positive company culture. Even a simple monthly all-hands-on-deck meeting can make a big difference! Consider adding weekly check-ins with key staff too. An informed team is an empowered team! 

Using the data to make a 2025 action plan for your pet business

According to the data, the pet industry is showing no signs of slowing down, but the competition is heating up. As we approach 2025, shift your focus from what you’re selling to HOW you’re selling it and the operations behind your pet business. 

Even small, strategic changes can lead to significant improvements in your business’s performance. The insights from the Pets+ Big Survey make it clear that the most successful thrivers are excelling not just in their products and services, but in the fundamental business practices that provide a strong foundation for sustainable growth.

So what IS your action plan for 2025?

Start by taking a critical look at the financial management of your business.  And if number-crunching isn’t your strong suit, consider working with a financial consultant who can help get your finances in order.

Next, prioritize strengthening the communication and collaboration within your team. The success all starts with YOU, but it can trickle down to your team, too. This will have a positive impact on your business over time! Plus, an added bonus, supported team members grow into stronger roles– so you can potentially give them more responsibility! 

Finally, don’t underestimate the power behind building your pet brand’s loyalty. It may feel like a lot of effort in your marketing, but marketing is a LONG game, and it requires consistency to see a pay off. Start now and watch your loyal customer base grow throughout 2025! 

Want to hear more of Candace’s analysis and advice based on the results of this survey? She dives even DEEPER in episode 155 of The Pet Boss Podcast. Listen here!

Want to read the results for yourself? Check them out on the Pets+ website!

I see THRIVING in your 2025 (and beyond!) future, Pet Boss!

Learn more with us!

• Need 1:1 support to make massive action now? Book a discovery call with us to see if working 1:1 with Candace is the right fit for you.
• Join the Pet Boss Club®! You’re passionate about pets. It’s time to have a business that supports the life you want, too! Learn the specific techniques to find new customers, to increase sales and to build a better team for ANY kind of pet business by joining the Pet Boss Club®! Get on the waitlist here.