We can talk a lot about quarantine as a time of possibilities, growth and leaving the comfort zone. But does business really have a chance to use its benefits? Mark Kalaygian, the editor-in-chief of the international Pet Business magazine thinks that pet business has a very great chance to do it.

“The past several weeks have been tough for retailers of all shapes and sizes. Social distancing restrictions and the general fear that has gripped the public have made old shopping habits temporarily obsolete, presenting formidable challenges even for essential businesses like pet stores.”, —  says Mark in his magazine.

Despite the claims of US government about reopening the market soon, the Pet Business editor is sceptical about that. Even the brightest forecasts tell about economic growth slowing down and inflation rising, not only in the USA but all over the world. But, even if Mark himself says that the estimated loss of small independent businesses may reach 15-20%, he is optimistic about the pet business in general.

“The demand for pet products isn’t going anywhere. If anything, weeks of living under quarantine conditions with our pets will only drive increased spending on our animal companions, even within the discretionary categories that were hit hardest by the pandemic… What’s more, many of the pet retailers that make it through the current gauntlet will find themselves better prepared to deal with the biggest threat facing their businesses pre-coronavirus — competition from online outlets — thanks to the fact that the pandemic forced them to build or expand their ability to offer customers home-delivery and/or in-store pickup options”.
“The pet industry’s manufacturers and distributors find themselves facing a similar dynamic… Of course, whether you’re talking about retailers or their suppliers, taking advantage of these emerging opportunities will require investment; and this is another area in which circumstances favor the pet industry. Given how relatively inexpensive capital is right now, and should be for the foreseeable future, the time is ripe for businesses to borrow or draw investors to fuel expansion”, — claims Mark.