Opinion
In this article written for pet retailers, Mark Kalaygian offers a comprehensive look at how the company has improved and how it is expected to continue to do so. His review was prompted by Petco publishing its 2020 annual report on May 4, 2021.
Animal health professionals, especially veterinary teams, need to look at these trends as many of Petco’s customers are clients of independent practices. Vital Care plan adoption is a compelling statistic that indicates owner needs being filled by a retailer.
. . . unlimited veterinary exams, nail trims and teeth brushing for a fee of $19 per month.” – Petco Vital Care per Mark Kalaygian
Source: Pet Business, May 11, 2021. Link. Here are a few of Kalaygian’s observations:
- Petco ended the year with veterinary hospitals in 125 locations, with the long-term goal of reaching 900 locations
- Total customer base growth to more than 20 million
- Managing healthcare: approximately 50,000 customers signed up for Petco’s Vital Care paid subscription plan
- Focus on e-commerce including using its stores as micro-distribution centers; 1,400-plus pet care centers are located within three miles of 53 percent of its customers
- Loyalty is building; auto-ship sales now account for nearly 45 percent of Petco’s digital revenue
INSIGHTS:
. . . unlimited veterinary exams, nail trims and teeth brushing. What a great place to position telemedicine, as well as curbside care!” – Kirk Augustine