With numerous reports of decreased attendance at trade shows nationwide, I was certain of how the current economic environment would affect our industry at this year's Global Pet Expo in Orlando, Florida. According to a survey report issued by UFI, the Global Association of the Exhibition Industry found that 62% of show organizers around the world saw their business decline in 2008 and nearly 70% said they expected at least a 10% decrease in revenue in the first half of this year.
After compiling the final show numbers from Global Pet Expo 2009, I am happy to say that Global Pet Expo exceeded expectations. Thousands of vibrant, innovative and useful new pet products were introduced at the Show and exhibitors were happy with the high quality buyers in attendance.
Global Pet Expo featured 779 exhibiting companies, 2,306 booths and total buyer attendance up this year by 2%. International attendance this year was higher than ever before, at nearly 25% of the total buyer attendance rate, representing 65 countries from around the world!
What I found most interesting was the growth in number of companies that came to Global Pet Expo to buy pet products. There was a 17% increase in companies that attended. Attendance by retailers that sell live animals jumped 33%. Single unite retailer attendance grew by 33% and the number of pet boutiques increased by a whopping 49%.
The outcome of Global Pet Expo both in terms of numbers and energy is an extraordinary example of the industry's resilience and reinforces our research that Americans value their pets. No matter the economic climate, pets will remain a top household priority and industry spending figures announced at the show reflect that. As projected, industry spending in 2008 hit $43.2 billion and is projected to grow another 4.9% to $45.4 billion in 2009.
Not only was our team ecstatic about the outcome of this year's Global Pet Expo, but exhibitors and visitors left with a renewed sense of optimism and a strong sense of momentum. Attendees witnessed a variety of innovative, unique pet products from games that teach fish to perform tricks to a lost dog tracker and intelligence graded dog puzzles. Each year thousands of great new products are launched and debuted at Global Pet Expo, I am looking forward to what 2010 will bring!
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