🐾 Your next big business: Aritzia for pets

Happy Friday! This is the One Minute Wonder — get useful tools, frameworks, and ideas summarized in 60 seconds (give or take).

Today we’re looking at the pet industry’s big trend: people are spending more on their pets than your parents did on you.

Pandemic adoptions, longer pet lifespans, and the rise of “pet humanization” will create a $500 billion global market by 2030. Luxury pet brands will continue to grow, but private labels are thriving too.

Why It Matters: The pet industry is growing at both ends of the spectrum: indulgent luxury and practical value. Brands that can balance premium offerings with cost-conscious options stand to thrive in a market where pets are truly part of the family.

Go deeper below (1 min read time)

Pets Are the New VIPs

• Why the Boom? Pets are living longer, healthier lives, and for many owners, they’re full-fledged family members. During the pandemic, 23 million American households added pets, increasing demand for products and services that reflect their status.

• Brands Joining the Pack: Louis Vuitton’s pet carriers, Prada’s designer leashes, and Sandy Liang’s matching outfits for pets and owners show how high-end fashion is already seeing this trend.

  

  Which carrier matches your furry friend’s vibe—modern chic or classic cool?

• Luxury Services: Upscale amenities are booming. Toronto’s Hound House offers memberships starting at $2,040 CAD annually for exclusive hangouts with your dog, while NYC’s Soho Grand Dog Park provides access to a posh private dog park for $795 USD annually for non-hotel guests. Pet luxury is no longer just a niche; it’s a lifestyle.

  

  Soho Grand Dog Park, New York

  

  Hound House @ Queen Street West, Toronto

The Rise of Private Labels

• Economic Pressures: Inflation has shifted some spending toward essentials, but that hasn’t stopped private labels from thriving. Offering high quality at a fair price, these products resonate with budget-conscious pet owners.

• What’s Working: Private labels are mastering the art of the high-end bargain. Drawing inspiration from luxury grocery items, they’re blending premium ingredients, stylish packaging, and sharp pricing - and they’re stealing customers from the established brands.

• Opportunities Galore: From pet supplements to all-natural freeze dry treats (check out the top trends here), the playbook is clear: premium feel at a bargain price. Get it right, and you’ll earn the trust of devoted pet parents everywhere.