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The Back-Yard Horse Owner and the Equine Industry at Large
Dr. R. H. Raub
According to American Horse Council statistics there are approximately 9 million horses in the U.S., and the equine industry contributes approximately $102 billion in indirect economic impact. Of the total number of horses approximately 45% are categorized as “Recreation”, 30% “Showing”, 10% “Racing”, 15% “Other”. However, I suggest that there are probably about 10% in the “showing” segment and 5% in the “other” segment that also could be classified in the “recreational” segment, resulting in approximately 60% of the horses in the U.S. falling into the recreational use segment. For purposes of this discussion I am defining the “equine industry” as any entity that provides goods and/or services to horse owners. So, how does the industry define the “back yard” or recreational horse owner? From an industry perspective the back-yard owner may participate in local or even regional organized events, competitions or shows. Their participation varies from occasional to regular yet seasonal. They also participate in recreational riding in parks or neighboring country side. The recreational owner does not view horse ownership as an income or business opportunity. Their buying decisions are based on dispensable income and not based on a business perspective of value or return on investment. However, that does not mean they are not immune to price sensitivity. Given this demographic perspective the back yard / recreational horse owner represents the majority of horse ownership in the U.S., and it is to this segment that industry hopes to glean much benefit from its product development and marketing investment. Amongst these efforts resides some interesting questions such as; what does the recreational horse owner drive the industry to provide (this is what we want), what does the industry drive the horse owner to desire (this is what you need if you want the best), and where can the recreational owner get the best information to make the best decision? Obviously, the recreational horse owner is of importance to the equine industry. How the industry can best foster, serve and grow the recreational segment provides ample opportunity for discussion and debate. Perhaps for the equine industry the answer may be as simple as making sure the recreational owner can easily answer the question “is this of benefit to the horse and / or the people that care for them”?