The retail landscape has been evolving rapidly in the pet care industry. Grocery retailers, despite their convenience, have been losing preference over the years. Pet shops and superstores are investing in becoming a one-stop shop for all things pet. E-commerce continues to enjoy benefits of evolving shopping habits, with newer forms of e-commerce emerging across markets. The retail landscape is changing, and consumers are looking for the best of both worlds.
This report comes in PPT.
The global pet care market continues to grow well in a post-COVID world, albeit at a slower pace than its pandemic highs. The pet humanisation trend supports consumer focus on pet health and wellbeing which in turn is supporting demand for premium offerings. Emerging regions continue to be strong pockets of growth.
Shopping habits formed during the pandemic continue to linger, thus supporting the continued growth of e-commerce. Beyond factors such as convenience and variety, channel evolution is supporting its popularity. Alternate business models such as subscription boxes, emerging e-commerce platforms such as social commerce and digital engagement tools such as livestreaming are some examples of how the channel is transforming.
Brick-and-mortar stores remain key to the pet care industry, with grocery retailers and pet shops and superstores playing a pivotal role. Specialist channels today are expanding into a variety of product and service offerings to become a one-stop shop for all things pet. Specialist players are also expanding offline presence in a post-COVID era.
Retail strategy today requires due consideration of having an omnichannel presence. Retailers are not only expanding offline presence but also online capabilities. Consumers are turning to different channels for different reasons. Hence, brands need to identify the right channel that aligns with their brand and category strategy.
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