Eager and keen to cash in on the trend of none other than pet ownership that has gone on to pick up during the CORONA VIRUS pandemic, investors have gone on to turn their attention and care to the pet care retailers and startups, waking up to a potential of the pet supplies, that’s been amongst the very few sectors to have managed to grow exponentially during this tough time of virus outbreak.
Suppose you see, in the last decade. In that case, India’s seen a multifold rise in the ownership of a pet, owing to the increasing disposable income mainly in more nuclear families, middle class, rapid urbanization alongside the dynamic attitude of individuals towards humanizing the pets as a part of their family.
The evident spike in the adoption of pets
The restricted Covid-19 lifestyle has seen increased mental health issues leading to anxiety and depression across sections of the society in India. In the tough times of loneliness and isolation, pets have gone on to emerge as largely accepted pacifiers offering unconditional companionship, camaraderie, emotional support alongside the very sense of purpose. And not surprisingly, there’s been this spike in the adoption of pets around India, leading to a growth in the demand for pet pharmaceuticals, food, toys, and grooming accessories.
This very trend is reinforced via The Hindu- Business Line that reports during the ongoing lockdown, kitten and puppy adoption rates have notably gone up over 50% and 40%, respectively, driving the growth of revenue in the specialized stores, online stores, and multi-brand retailers, a fully emerging brand-new channel. This spike in the business has encouraged the players to invest further in upgrading the services, products, and experiences around the channels.
So what are you waiting for now? You could try this out too. To know further, you may look over the web.