Shares in Pets at Home (PETS) were heading in the right direction long before the ‘shelter in place’ diktats made us long for furry companionship. It’s well established that pet ownership spiked during the pandemic, but the group stands to benefit from the involvement of a key demographic.
Indeed, the Pet Food Manufacturers’ Association estimates that 3.2m households bought a pet during the period, with almost two-thirds of the new owners aged 16-34. Fertile ground for Pets at Home, which, unlike many other retailers, was allowed to keep its doors open during the lockdown.