A continued boom in pet product e-commerce delivered incremental gains in 2019, while a larger-than-expected pet food sales increase in mass channels bolstered the overall market.
Online retailers are well-positioned to continue gains in shares and sales. A pre-coronavirus pandemic surge in Internet sales of pet products – leading to a platinum-plated IPO for Chewy.com – spurred massive pet market investment in e-commerce logistics, which should help shore up the products side of the industry in the coming months. This advantage is doubly important because the shift to e-commerce has grown the overall pet products sector and not merely cannibalized sales from brick-and-mortar outlets. Packaged Facts projects the online share of overall pet product sales to reach 24% this year and 26.5% by 2024.
For more information, see Pet Market Outlook 2020-2021 along with the rest of the pet industry coverage from our sister publisher, Packaged Facts.