M. Shahbandeh
Research expert covering agriculture & FMCG
PetSmart Inc. - statistics & facts
PetSmart Inc., the American retail chain, accounted for almost quarter of pet store market share in 2023. There are dozens of pet supply chains in America, but one rises above the flock. Since 1986, the chain has expanded to 1,669 locations , more than any other North American pet specialty chain. PetSmart was also listed among the leading retailers in the United States in 2023.
Pet store market in the U.S.
The pet industry expenditure in the United States grew by almost 50 billion U.S. dollars in the past three years. The increase in household pet-ownership in the U.S. could partly explain the rise in pet industry expenditure over the years. The total revenue generated from pet stores across the United States is projected to reach roughly 30 billion U.S. dollars by 2024. At 10 billion U.S. dollars in revenue, PetSmart is leading the pet store market across the U.S. followed by PETCO Animal Supplies and Pet Food Express. The annual growth in total revenue of PETCO Animal Supplies in the United States has been positive in the last four years. The company's revenue grew by over 18 percent in the fiscal year of 2020/21, due to the significant growth of new pet owners during the Covid outbreak while working from home.Online sales channel as a market opportunity
The e-commerce pet segment is also growing in the United States. Most pet owners used to purchase pet food from specialty pet stores, but recently online purchasing has become one the most popular sales channel for Americans. Unsurprisingly, PetSmart is also generating revenue in the online market. Petsmart.com was ranked second in the list of the leading online stores in the pet supplies segment in the U.S., surpassed by a large margin by chewy.com. While PetSmart is considered a well-known brand in the on online sales channel at 90 percent brand awareness among online shoppers in the United States, Chewy.com is clearly the market leader. This depicts a clear market opportunity for PetSmart to expand its market share in the pet industry.
