I’m calling this month’s updates “The Good, Bad, and Funny” because there is so much information to pass along from The Global Pet Expo and The Pet Summit – most of it is good!
The Global Pet Expo is a good meeting to discover new and innovative pet products, uncover the latest stories about pets, meet with brands, network with industry experts, and access the latest pet ownership data. It is the #1 event for retail buyers, distributors, wholesalers, media, and influencers.
One of the great things that happens at The Global Pet Expo is the Nestlé Purina PetCare Innovation Prize. Early-stage companies compete for cash prizes while also getting the opportunity to pitch their startup to industry influencers and investors. Participating in PCIP also helps these entrepreneurs to learn valuable business lessons and make essential connections. This year’s grand prize winner was VEA, an AI-driven platform that empowers veterinary clinics to make patient care simpler and more efficient.
Exhibitors at The Global Pet Expo received training on critical issues, including the “10 Biggest Mistakes Booth Staffers Make That Limit ROI” by Jefferson Davis, and a roundtable discussion titled “Tariff Policies and the Impact on Pet Businesses.” The most significant economic forces shaping 2025 and beyond (aka the good and the bad forces depending on your perspective) are: tariffs, interest rates, employment trends, and the evolving consumer spending.
I also attended the Human Animal Bond Research Institute (HABRI) meeting at the expo. The organization is working to get funding for low-income families to more easily have pets by paying for the pet deposit required by apartments.
In conjunction with the Global Pet Expo, The Pet Summit by the American Pet Products Association (APPA) offers experiential education, networking & events for visionary pet industry professionals. A prime example was the great group of industry professionals (Mary Chestak of Moggie, Patricia Porter of VEA, Guilherme Coelho of Maven, and Terry James of Offleash’d) who participated in a panel discussion titled, “Innovating the Modern Pet Parent: AI’s Role in Shaping the Future of Pet Care.” As the moderator, I was intrigued by the breathe of knowledge from my panelists and how AI has expanded everywhere.
Now for the bad news, pet costs are up. However, the good news, the forecast is for moderate growth in the pet industry (including veterinary services).
This is not just a veterinary industry issue; it is an overall issue and a pet issue. As the quality of care continued to be enhanced, the cost of that care goes up hand-in-hand. As a result – and this is a good thing- pets live longer and cost more. We hurt ourselves when, according to the data, ‘petfaltion’ was higher than inflation. Pet financing solutions must step in to help. If you are not advocating pet insurance and CareCredit – I have to ask WHY???????? A trend I see in larger practices is to have a person assigned to pet financing. If you have a new puppy coming in, have them meet with your financing expert and get them on the road to success with CareCredit and pet insurance, and make sure they know all the financing support your practice offers. Remember – this is a service business.
Regarding the product side of the pet industry, both events allow attendees to see the latest products and start-ups. The marketing for some of the products will bring a smile to your face (especially the hair dryer for cats)!
Be sure to check out the next Global Pet Expo and Pet Summit for more innovative, passionate, and collaborative ideas that define our ever-evolving pet industry. From groundbreaking products to insightful panels, this event has once again brought together the brightest minds and most dedicated hearts working to improve the lives of pets and their people. Until next time, keep inspiring, connecting, and championing the future of pet care.