What would people do were it not for their beloved pets? Nowadays these loyal companions are more than ever viewed as members of a family, and owners are willing to pay a premium to give them only the best.

            Experts attribute this change in the position of pets to several factors like the fact that people live alone longer and traditional family timelines are delayed. Owners' willingness to pay top dollar for high-quality pet products bodes particularly well for retailers. According to a Packaged Facts study, the pet market was estimated at $90.1 billion last year.

            The sector as a whole is strong and quite resilient to economic headwinds, but not every player is immune, and adjustments must be made. Retailers have responded to consumers' demand for premium-grade pet products (and their willingness to pay the premium price tag). How? Find out here: https://bit.ly/2JYjYZ3