Although the purchase volume of retail stores grew slowly, the online pet market has almost doubled since 2013.
With the continuous increase of pet ownership rate, the target market of the whole industry will expand, thus forming a new penetration point.
For entrepreneurs eager to enter new markets, pet food and pet products are the second and third largest e-commerce CPG categories in the industry. In the fields of natural food, animal care and supply, the hope for prosperity is very high.
There is a lot of room for maturity in the e-commerce field, because customers' preference for purchasing pet products on e-commerce websites is estimated to increase by 9.4%.
Baby boomers no longer represent the largest market for pet owners; This title now belongs to the millennial generation. Pet brands that will win the future of the industry must understand the differences between millennials and other generations.
Digital purchasing power cannot be separated from marketing. Millennials spend almost twice as much time on social media as baby boomers. 90.4% of millennials are active social media users, while the proportion of baby boomers is 48.2%.
Pet food market
Globally, pet food is worth US $911 billion, which is the largest niche market in the industry.
In 2020, most of the US $30.9 million pet market revenue will come from the food industry, including snacks and supplements.
Pet stores, retail stores and flash stores
Despite the online rise of Chewy and Amazon, PetSmart and Petco still occupy the largest market share in the pet store industry.
According to Pet Business's list of top 25 retailers in 2019, PetSmart added 48 stores (more than 100 stores in 2017) and Petco added 10 stores (39 stores in 2017).
Amazon: Elephants in the room
Since Amazon's main website and third-party sellers account for 35% of the online market share, pet startups can only fight for the food left in the bowl.