PET CARE CONTINUES BENEFITING FROM ONLINE RETAIL SALES - EUROMONITOR INTERNATIONAL

KUALA LUMPUR, April 30 (Bernama) -- Pet care will continue to benefit from the online retail sales boom during the pandemic, as the industry expects to record a seven per cent growth by 2026, according to global market research company, Euromonitor International.

Pet care sales soared by 8.7 per cent last year with pet food, accessories, beauty and grooming categories benefiting the most from the pandemic with growth of 8.1 per cent, 10.3 per cent and 11.3 per cent, respectively.

According to the new webinar ‘Pet Care Outlook: Which Trends Will Outlast the Pandemic?’, digitalisation is one of the trends that will continue to dominate the pet care market in the next five years.

“The pandemic accelerated ongoing channel shifts to e-commerce as owners avoided unnecessary trips to pet specialty channels,” said senior head of pet care research at Euromonitor International, Jared Koerten in a statement.

The premiumisation trend accelerated in 2020, seeing owners spending more per pet, due to significant spending cuts on travel and dining out. Australasia spent the most on food per dog and cat in 2020 (around US$275), followed by North America (US$211) and Western Europe (US$182). (US$1 = RM4.098)

With remote work policies spreading beyond 2021, it is expected that more people will adopt pets.

Time spent at home will enhance humanisation, as nearly 71 per cent of global respondents from Euromonitor’s Lifestyles survey mentioned viewing their pets as ‘beloved members of the family’ in 2021.

-- BERNAMA