Pet Market in Panama

Some pet service providers claim that their sales have been sustained, while others report that their income is beginning to recover after overcoming a period of economic slowdown.

Tuesday, February 25, 2020

In recent years the Panamanian economy recorded a slowdown, since in 2018 the Gross Domestic Product of the country reported a 3.7% year-on-year growth, far from the increases of 11.3% and 9.8% reported in 2011 and 2012, respectively.

It is estimated that in 2019 the increase in production will be between 3.5% and 4%, and for 2020 international organizations predict a more solid recovery.

In this context, local pet care entrepreneurs expect sales to rebound in the coming months.

See "Pets: Consumer Preferences"

Anny Duran, from Mascota Resort, told that "... in the last 5 years nine dog businesses that provided hairdressing services, hotel, veterinary clinic, food and accessories sales closed. I resisted having high operating costs, however, we are seeing some recovery in the business."

Also see "Pet Food: Business with Mexico Grows at 10%"

Maritza Douri, manager of the VIP Vacation Kennels Panama hotel, explained that "... despite the economic situation of the country, they do not report a drop in income either in high or low seasons (April to October). At the moment we have maintained our clientele in comparison to previous years. At times we have had to say that there is no space because we are full."

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Retail: What to expect in 2020?

December 2019

After recording in 2019 a decline in sales and loss of formal jobs, companies in the commercial sector of Costa Rica predict that during next year their revenues will begin to recover.

The current year has been a year of economic and commercial contraction, mainly because of the loss of consumer confidence and the consequent reduction in sales, which in turn reduced the capacity for investment and employment generation by companies, explains a statement from the Costa Rican Chamber of Commerce (CCCR).

Toy Shops: Strategies in Difficult Times

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In Costa Rica, some toy businesses have decided not to raise prices during 2019, ally with banks and make special offers in order to increase sales in a context of economic slowdown.

According to reports from the Central Bank of Costa Rica (BCCR), in the second quarter of the year, GDP grew 1.4% year-on-year, below the 3% reported in the same period in 2018, which is associated with the evolution of domestic demand and external demand for the production of companies of the definitive regime.

Business Optimism in Pet Care

November 2018

Notwithstanding the economic uncertainty in Costa Rica, businessmen in the pet care and attention sector maintain positive expectations in the short and medium term.

The high fiscal deficit and the depreciation of the local currency, that has accelerated in the last two months, are some of the issues that have generated uncertainty in several productive sectors of the country.

Boom in Services for Pets

October 2012

In Guatemala the fashion for having of different kinds of pets in homes is growing, increasing the demand for vets and services to care for them. reports that "Dr. Julie de Arimany, a veterinarian and owner of Dogcare Veterinary Hospital, believes that the trend for families to adopt a pet as a family member has already been around for more than 20 years and has intensified due to television programs such as those shown on the channel Animal Planet. 'we have been operating as a hospital for eight years and during this time demand has greatly increased, we have had to adapt by adding beauty salon, kennels, home delivery. It's a good business, which is why new veterinary businesses have started up', said de Arimany. "

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