The expected increase is over 100%! Data management is the winning formula for pet e-commerce

In the past two years, the development momentum of the pet products market cannot be ignored. However, after achieving initial development, how to maintain the long-term growth trend is also a topic that all merchant platforms have been studying.

Pet Friends is a Korean online shopping platform for pet supplies. By providing 24-hour product and pet health consultation services, same-day express delivery services, etc., the platform has become the largest pet e-commerce platform in Korea. In 2020, sales increased by 168% year-on-year to 31.4 billion won. According to the platform, sales this year are expected to increase by more than 100%.

Pet Friends ' CEO said that the secret to maintaining steady growth is that they have consolidated their market leadership by strengthening recommendation tools based on customer data. Having many highly engaged customers is also one of the advantages of the platform.

Because when customers buy items, they need to buy according to the size, age, and breed of their pets. Therefore, customers provide a lot of data to the platform and spend a lot of time and money on the platform for their pets. The platform analyzes and uses this data to build its own database. Then it uses the database to plan business development models, thereby achieving differentiated development.

Pet Friends encourages users to provide their pets' information when registering, including age, physical condition, allergies, etc. At the same time, they will also provide high-quality delivery services for these highly engaged users, so that the user's shopping experience can be as perfect as possible. Currently, the platform has data on nearly 700,000 pets.

For pet novices, the platform will also use data analysis to help them. The platform will recommend relevant products to pet novices based on the shopping records of existing customers, helping them buy suitable supplies for their pets.

The CEO said that this model of recommending products based on data analysis is different from other platforms that only list products by price or popularity. It can make more accurate recommendations to users and increase the purchase rate. According to statistics, 70% of users have pets under 1 year old. Therefore, this recommendation system makes many novice pet owners satisfied.

At the same time, the platform also cooperates with veterinarians to develop its own brand products, and plans to jointly develop nutritional supplements with pet nutritionists. Currently, the sales of its own brand account for 20% of the total platform sales .

According to the survey, as the number of families with pets increases, customers will spend more money on pet care. Therefore, many customers will learn about and look for high-quality products for their pets, which will further promote the development of pet products.

The example of Pet Friends , which has grown and developed based on data management, shows that in the current era of big data, popularity and high sales are no longer the only basis for consumers to buy. Being able to provide tailor-made and various types of intimate services is more likely to be favored by consumers. Therefore, corporate sellers should also take this condition into consideration in their future plans to obtain more development opportunities.

Pet Market

PetFriends