Question

In London there are about 8,9M people; about 41 percent of the British

households own at least one pet; 23 percent of the households have dogs, Cats -
7,5, Rabbits - 0,6, Indoor birds - 0,5, Guinea pigs - 0,4, Domestic fowls - 0,4,
Turtles - 0,3, Hamsters - 0,2, Snakes - 0,2, Lizards - 0,2.
• In 2017/18/19 there were about 9% of all London households had dogs (251 000
households) with 1.3 dogs per household.
• Adopting a dog from a rescue or shelter is typically cheaper than buying a pet and
can run as low as $50 or as high as $700. Buying a dog is, as expected,
considerably more expensive than adopting, with the price running anywhere from
$1000 to $4,000 or more depending on the breed. Small rodents, like guinea pigs
and hamsters cost a lot less, usually between £10 and £20.
• Eight million households in the UK are rented homes. Only about 7% of rentals in
London allow pets according to their listings (data collected by Kennel Store using zoopla). estimate the market potential of african pygmy hedgehog pet market of london for 2022

Answer 1

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Step-by-step explanation:

To estimate the market potential of the African pygmy hedgehog pet market in London for 2022, we can consider the following steps:

1. Calculate the total number of households in London: Given that there are approximately 8.9 million people in London, we can assume that the number of households is approximately the same.

2. Determine the percentage of households that own pets: According to the information provided, about 41 percent of British households own at least one pet. Assuming this percentage holds true for London as well, we can calculate the number of households that own pets in London.

3. Calculate the number of households that have dogs: In 2017/18/19, approximately 9% of London households had dogs. Given that there are 251,000 households with dogs, we can estimate the total number of households in London.

4. Estimate the market potential for African pygmy hedgehogs: To estimate the market potential, we can assume that the ownership of other pets follows a similar pattern as dog ownership. Since the data provided does not specifically mention the ownership of hedgehogs, we can estimate it based on the proportion of households that have other small pets like guinea pigs and hamsters.

5. Calculate the estimated number of households that may consider owning African pygmy hedgehogs: Based on the proportion of households that have small pets like guinea pigs and hamsters (0.4% and 0.2% respectively), we can estimate the potential number of households that may consider owning African pygmy hedgehogs.

6. Multiply the estimated number of households by the percentage of rentals that allow pets: As mentioned, only about 7% of rentals in London allow pets. We can apply this percentage to the estimated number of households to get an approximation of the potential market for African pygmy hedgehogs.

It is important to note that without specific data on the ownership of African pygmy hedgehogs or the demand for them, this estimate is based on assumptions and general trends. Conducting market research or consulting industry reports would provide more accurate data for a reliable estimate.