40% of pet owners are buying products from online retailers. Fascinating to see how ideas that went bust during the 90’s dotcom crash are back – bigger than ever. Pets.com is the most recognized flop from that era. People loved the concept (and the sock puppet) but the shipping costs killed the business.
- The Internet is the new “pet parent,” according to Packaged Facts’ U.S. Pet Market Outlook, 2017-2018.
- M&A activity since 2016 points to a structural remix of the pet market e.g. Mars bought VCA Inc., PetSmart bought Chewy.com, and Walmart bought Jet.com (which is big in pet supplies)
- People are buying more pet products online and spending more of their pet product dollars online.
So how are traditional retailers competing?
- Pet specialty stores are offering grooming, boarding, and training.
- Supermarkets are increasing the size and scope of their pet care departments, sponsoring pet contests, running promotions with animal rescue groups and filling pet prescriptions.
Read on below for more pet biz trends from Rover.com, the online network for pet sitters and dog walkers.