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the younger generation is in an era of consumption downgrade. their demand for technology products is gradually fading, and they are looking for more affordable solutions that are closer to their lifestyle. pets, as a manifestation of companionship and emotion, have found new market space at this time. the pet service field, from traditional pet food and supplies to professional services such as medical care and training, has shown a rapid development trend.

however, in this industry full of opportunities and challenges, entrepreneurs face two major challenges: how to get out of the predicament of being a "small portal" and how to stand out from competitors in a homogeneous market?

the unique situation of the “pet economy”

the development of the pet industry is inseparable from the efforts of many "small and micro enterprises". among the pet-related enterprises registered from 2018 to 2023, self-employed individuals accounted for as high as 75.8%. these small shops and service providers are the "pillars" of the domestic pet economy. with their rich experience and unique service model, they provide strong guarantees for the health, growth and companionship of pets.

among the top ten pet brands in taobao tmall, there are 9 domestic brands, 6 of which are small and micro enterprises. this reflects the dominance of small enterprises in the pet service industry, and also indicates that in the future, the pet economy will develop in a more professional and efficient direction.

opportunities and challenges for “top players”

however, these "small portals" also face many challenges, such as franchising issues and homogeneous competition. many pet hospitals choose to expand through franchising, but the problems of franchising lead to differences in brand quality and service levels. some "pet hospitals" have brand names, but they only change the purchase channels, and the level of doctors remains the same. this method can expand rapidly, but the consumer experience is different.

the rise of the “newcomers”

as a typical representative of pet hospitals, xin ruipeng expanded through mergers and acquisitions and other models and accumulated a scale of 23 brands, but medical accidents exposed the drawbacks of this thinking.

on the other hand, some brands choose to rely on the self-operated model to develop. however, the challenges of this model lie in capital investment and operational difficulty.the future direction of the “pet economy”

the development of the pet industry is still full of opportunities and challenges. the pet service sector, from traditional pet food and supplies to professional services such as medical care and training, is showing a rapid development trend. however, in the homogeneous competition, how to seize market opportunities and achieve differentiated development is the key.

in the pet food segment, such as pet food for different age groups, pet food for sensitive stomachs, etc., it is easier to stand out by focusing on refinement than by being too comprehensive. emerging service areas such as pet funerals and pet hotels are new market opportunities.

the future of the “pet economy”

• refined differentiation: in the sub-sectors of pet food, such as pet food for different age groups, pet food for sensitive stomachs, etc., it is easier to stand out by being refined than by being broad-based.
• new track exploration：emerging service areas such as pet funeral services and pet hotels are new market opportunities. they will innovate through new technologies and models to provide more convenient services for pets, and integrate with other industries to form a more complete ecological system.

in the future development of the "pet economy", it is necessary to seek new solutions and constantly explore new directions.