Background of PetSmart

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Operating in 1197 stores in North America, PetSmart "is the largest specialty retailer of services and solutions for the lifetime needs of pets" ( Corporate: Investor Relations. 2012). The business of pets and pet care continues to be a thriving and growing industry; "the American Pet Products Association, or "APPA, estimated the calendar year 2010 market at approximately $47.7 billion, an increase of more than 180% since calendar year 1994" ( Investor Relations. Annual Report. 2010). The industry's size and scope provides opportunities for a range of business to compete for the pet owner's discretionary spending; as such PetSmart must constantly innovate and offer consumers value across their business model. The ongoing streamlining of the company's value chain offers insight into two "big ideas" of economics: markets and voluntary exchange, and choices and incentives. PetSmart PetSmart has been in operation since 1987 with a mission to serve pet owners, termed "pet parents" by the company across multiple product and service platforms ( Corporate: Company Overview. 2012). PetSmart's goal is to capture an ever increasing share of the dynamic pet market, which has 62% of households in the United States owning a pet, equating to more than 71 million homes" ( Investor Relations. Annual Report. 2010); by providing pet owners differentiated choices and value across key categories: "food and treats, supplies and
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