Economy
Economic conditions have a direct impact on consumer spending, supply chain costs, and trading performance across the UK pet industry. Pet Gazette tracks how inflation, interest rates, labour shortages, and broader macroeconomic pressures affect pet retailers, wholesalers, and brand distributors. Coverage includes commentary on pet sector resilience during downturns, price sensitivity among shoppers, and shifts in demand for premium vs value ranges. We also report on government economic policy, retail footfall data, and financial forecasts relevant to pet businesses navigating changing market conditions.
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Dec- 2024 -23 DecemberEconomy
BRC warns of โspending squeezeโ in January
The British Retail Consortium has warned of a January spending squeeze, as BRC-Opinium data between 10 and 13 December showed that peopleโs spending intentions dropped 6pts. It comes as public confidence in the state of the economy โtook a nosediveโ, falling 8pts to -27, creating a widening gap between expectations…
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Nov- 2024 -20 NovemberTrade Organisations
UK pet industry writes to chancellor over budget concerns
The Pet Industry Federation (PIF) has written to the chancellor of the exchequer, Rachel Reeves, this week to express significant concerns about the recent Budget and its potential negative effects on the pet industry and pet ownership. The UK pet industry, a ยฃ7bn sector, supports millions of pet owners and…
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15 NovemberEconomy
UK economy stagnates in three months to September
UK gross domestic product (GDP) is estimated to have stagnated during the third quarter of the year as uncertainty ahead of the budget affected decision making, according to the latest figures from the Office For National Statistics. The ONS found that UK GDP increased by 0.1% in Quarter 3 (July…
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14 NovemberRetailers
76% of UK pet SMEs ‘concerned’ over effect of Autumn budget, PIF finds
A substantial 76% of small businesses within the pet industry have stated that the budget is detrimental to the UK economy, with 68% expressing fears that it could lead to job reductions, according to a recent survey conducted by The Pet Industry Federation (PIF). Additionally, 70% of those surveyed indicated…
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Sep- 2024 -13 SeptemberRetailers
Retail industry is overtaxed, says BRC
The British Retail Consortium (BRC) has claimed that the retail industry is overtaxed compared with other sectors of the economy after new research found retail pays 7.4% of all business taxes (ยฃ33bn), a share 1.5 times greater than its share of the overall economy (5% GDP). The BRC said this…
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Aug- 2024 -1 AugustEconomy
BoE cuts interest rates for first time in 4 years
The Bank of England (BoE) has cut interest rates for the first time in four years, with the rate falling to 5%. The bank voted by a majority of 5โ4 to reduce the rate by 0.25 percentage points to 5%, marking the first fall in inflation since March 2020, where…
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Jul- 2024 -24 JulyEconomy
Global pet industry to grow to $500bn in revenue by 2030, BI finds
The global pet industry will expand by more than 45% over the next six years, surpassing $500bn (ยฃ386.8bn) by 2030, according to a new report from Bloomberg Intelligence (BI). The surge will be driven by increasing pet ownership, particularly in emerging markets like China, robust sales in pet food, strong…
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2 JulyManufacturers
Biomega appoints new director
Biomega has announced the appointment of Lisa Hubert from Mirova to its board of directors. She has more than 15 years of experience originating, structuring and managing investments in sustainable agriculture, forestry, infrastructure and the blue economy. She has on-the-ground operational experience and strong networks in many countries in LATAM,…
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Jun- 2024 -4 JuneEconomy
UK sales slightly increase by 0.7% in May
UK total retail sales increased by 0.7% year on year in May, against a growth of 3.9% in May 2023. This was above the 3-month average growth of 0.3% and below the 12-month average growth of 2.0%. Food sales increased 3.6% year on year over the three months to May,…
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Apr- 2024 -19 AprilRetailers
Tails.com secures B-Corp certification
Tails.com, the tailored dog food service in the UK and Netherlands, has announced that it has become a certified B Corporation following an assessment by B Lab. B Lab is a non-profit network transforming the global economy to benefit all people, communities, and the planet. Certified B Corporations are independently…
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