Yesterday, across the world and especially in the U.S. Halloween was celebrated.
From a study conducted by the National Retail Federation, it emerged that more than 31 million Americans spent an estimated $480 million treating their pets to costumes this Halloween. This is up from 28 million Americans last year and more than double the $220 million spent on pet Halloween costumes in 2010.
What is also fascinating is that pet costumes represent 15% of the $3.2 billion spent on all costume sales!
Millennials aged 25- to 34-years-old are the most likely to dress up their pets, often posting their animal’s Halloween look online.
Why is this relevant?
We have already discussed the surge in pet commerce and the benefits this industry will be seeing as demand will continue to rise.
In our latest Investment Research Report, we look at this trend in more depth and also provide specific investment ideas on how one can profit from this innovative industry.