Agencies have conducted surveys abroad. Data shows that more than 75 million families in European countries own at least one pet. Not to mention the cost of pet daily necessities, at least 91% of people will buy Christmas gifts for their pets during Christmas alone. Also in the United States, 69% of families own at least one pet, and it is expected that the number of pets in the United States will grow at a rate of about 3% per year. In the next few years, the U.S. pet industry will continue to grow at a rate of 4%-5%.
In the overseas market, pet smart products belong to a relatively non-"roll" category, and there has even been an interesting phenomenon of losing money in China and making money abroad. Pet products companies such as cat climbing rack , which focuses on high customer unit price, have also started the road to brand overseas. FEANDREA and uncarded VETRESK, a subsidiary of Zhiou Technology, are all trying on this track.
Domestic pet companies started with brand OEM, and data shows that most of their main revenue comes from overseas markets.
Overseas market almost feeds the domestic pet industry, which is also closely related to the vast overseas pet market. Taking the US market as an example, SDR Ventures data shows that about 70% of American families have pets, and Americans treat their pets as if they were family members. In the United States alone, pet spending in 2021 exceeded $123 billion, including $50 billion in food and snacks and nearly $10 billion in beauty, boarding and even pet health insurance.
In the primary market, the investment and financing situation of pet tracks has also continued to heat up in the past decade. Qichacha data shows that there are 1.1035 million in-service/surviving enterprises with keyword "pets". Judging from the investment and financing situation, from 2011 to 2020, a total of 358 investment and financing occurred in my country's pet track, with an amount exceeding 11 billion yuan. The injection of capital in
has also nurtured many pet brands for the domestic pet track, and the market competitiveness of domestic pet brands is gradually improving. Guojin Securities statistics show that in the domestic market, the concentration has shown a downward trend in the past 10 years. From the perspective of domestic and foreign brands distribution, among the top 15 brands, the share of foreign brands has dropped from 28.8% to 13.9%, and the number of shortlisted brands has dropped from 7 to 6; the share of domestic brands has increased from 13.9% to 15.5%, and the number of shortlisted brands has increased from 8 to 9.
However, this also means that the domestic pet track is facing increasingly severe competition. As a result, an interesting phenomenon occurred in the pet track, and pet brands are going out to sea together. Previously, some media incomplete statistics have shown that in the past three years, there have been more than 30 products online overseas with pet smart feeder categories, most of which are domestic brands.
However, the brand's journey to overseas travel will never be smooth. Many pet track practitioners have gradually discovered that the difficulty of overseas travel in 2022 has increased a lot compared to before. The market dividends since 2020 are gradually fading.
If you want to stand out from the competition, the only way is to differentiate. The agency where Li Zhiting (pseudonym) is providing agency operation services for a smart pet supplies brand in Shenzhen. Cooperating with the brand is to select the uniqueness of the brand's research and development products. "Differential products can indeed be fought overseas for a relatively long time, so they will not fall into a price reduction step and compete in price wars." Whether it can be truly accepted by the local market will still test every overseas brand.
