The Pet Food Institute estimates that 60% of all US households own pets. With the explosive growth of the Internet, the opportunity exists to become a category-killer in the pet industry, and no one has distinguished themselves as yet.
The Internet has emerged as a significant medium for conducting business. International Data Corp., a market research firm, estimates that the number of online users worldwide exceeded 97 million in 1998, and will grow to over 319 million by the end of 2002. International Data Corp., also estimates that annual worldwide commerce over the Internet will increase to approximately $425 billion by 2002. The Internet has created a dynamic and particularly attractive medium for commerce, empowering consumers to gather more comparative purchasing data than is feasible with traditional commerce systems, to shop in ways that can be more convenient for them, and to interact with sellers in many new ways.
There is a $23 billion pet and pet supply market (more than toys sales and twice music sales), but there is also the $15 billion veterinary supply market. Retail sales in the US for pet veterinary care products is by far the fastest growing segment, according to Dr. J L Foraz, Merial's (Merck and Rhone Poulenc joint venture) marketing director & veterinarian.
The Pet Index:
quote.yahoo.com
Soon to include PETSWAREHOUSE.com (also the source of information presented above)
Good luck with your investments.
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