Alaric DeArment
WHAT IT MEANS AND WHY IT S IMPORTANT One of the most common reasons that retailers give for pet-medication programs is that pets are part of the family.
As analyst Debbie Wang of investment firm Morningstar told Drug Store News in April 2012, more empty nesters and young couples putting off having children are driving increases in pet ownership, and with that comes a need for pet healthcare.
(THE NEWS: Vet, FTC meeting affirms pharmacists animal medication role. Click here for the story.)
This is why retailers like Kmart and Costco have been pushing their pet med businesses and expand their presence in a pet products market-worth, by some estimates, almost $53 billion. But a bigger reason is that it helps draw customers into the store, Wang said. Pet meds in and of themselves aren t a major profit driver: A study cited by online pet supply retailer Drs. Foster and Smith estimates that 6 million pet prescriptions were filled at pharmacies outside veterinary of
British hospitals stretched as COVID-19 cases surge.
Trump signs COVID-19 relief bill, averts U.S. government shutdown.
Workers wearing protective gear disinfect benches as a precaution against the coronavirus at the arrival hall of the Incheon International Airport in South Korea on Monday.(Kim Sun-woong/Newsis/The Associated Press)
Several Canadian regions report new variant of coronavirus first detected in U.K.
A new variant of the coronavirus first seen in Britain has been detected in several regions of Canada, amplifying worries about its spread. The discoveries come as Canada topped 15,000 deaths as a result of COVID-19 on Monday, with more than 554,000 cases reported since the pandemic began.
The coronavirus pandemic has altered nearly every aspect of consumers lives canceling in-person events, halting travel and moving everyday activities, like work and school, into the home. This, in turn, affected not only how shoppers spent their money, but what they spent it on.
Products in the home and office categories flew off the shelves early on in the pandemic as consumers adjusted to their new normals of working remotely and spent almost all of their time at home. Most other nonessential retail categories, however, didn t fare as well. Apparel retailers have faced steep losses in recent months as the need to purchase new clothes for work and going out dwindled.
new product introductions and increasing availability, particularly in smaller non-milk categories
rising consumer adoption
upward momentum of consumption of these products among those who already eat plant-based dairy or eggs
In 2020, producers are placing focus on investing in better technology and improving economies of scale to make plant-based dairy and eggs more affordable to general consumers. As the prices of these products decrease over the 2019-2024 forecast period and more closely approach the price of conventional dairy and egg products, volume consumption is expected to increase significantly with rising adoption among general consumers as well as higher consumption of these products among plant-based dairy and egg eaters.