What with Global Pet Expo, SuperZoo, P3 and InterZoo, is there really a need for another pet industry show?
And yet in the last two months, I have talked to three different people who are mulling over launching a new one.
I get it, on one level. For many of us, it’s no longer enough to build a doghouse out in the backyard and call it quits. Today, we’re paying for knee surgeries for our animals and feeding them gluten-free diets.
Americans spent $24 billion on pet food last year, up 30 percent from 2010. They handed veterinarians $16 billion and spent another $15 billion for over-the-counter medications.
But tradeshow entrepreneurs are not the only ones to have noticed this phenomenon. Earlier this week, Mars Inc. – which some of us thought was strictly in the M&Ms business – paid $7.7 billion for veterinary and dog day-care company VCA Inc.
Wouldn’t this be a sign of an industry consolidation, the same type of move that led to similar consolidations in other consumer-facing industries like hardware and corner drug stores, followed eventually by the demise of some well-established colossal tradeshows?
Who needed the American Hardware Assn.’s annual tradeshow in Chicago once Home Depot and Lowe’s started running the mom-and-pop hardware stores out of business?
By the way, in case you missed it, Mars isn’t new to the pet products world. It got into the business back in 1935 and acquired the Iams brand of pet foods from Proctor & Gamble for $2.9 billion three years ago. With the VCA acquisition, it adds 17,000 veterinary clinics and dog day-care centers to its pet empire.
Do you really think its buyers will be trolling tradeshow aisles for new products any more than WalMart’s buyers are?
What am I missing with all the talk of new pet products tradeshow launches?
Michael Hart is a business consultant and writer who focuses on the events industry. He can be reached at firstname.lastname@example.org.No Fields Found.