The market size is as high as 19.5 billion, and these pet Spring Festival supplies are selling like hot cakes in South Korea!

According to statistics from the Ministry of Agriculture, Food and Rural Affairs of South Korea, as of the end of 2019, about 26.4% of Korean households owned one or more pets. This means that about 15 million Koreans have pets.

With the increase of the "pet tribe" living with pets , more and more consumers buy Spring Festival products for their beloved pets on the eve of the Spring Festival.

On February 3, South Korea's Daily Economic News reported that from the 19th of last month to the 1st of this month, sales of pet-specific Korean clothes and toys on the Korean online shopping mall SSG.com increased by 50% and 34% respectively compared with the previous two weeks .

At the same time, sales of pet snacks and nutritional supplements also increased by 12.8%. SSG.com said that as people pay more attention to pet health management and improving immunity, the demand for pet nutritional supplements with health benefits is also increasing.

SSG.com also said that due to the COVID-19 pandemic, temperature measurement has become a daily routine, so there are more people buying non-contact thermometers for pets. Urine testing kits that can easily confirm whether there is a disease through urination are also very popular among Korean consumers.

In addition to everyday pet products, New Year gifts specifically for pets are now available in Korea's online retail market.

For example, Lotte On, an online shopping website under South Korea's Lotte Group , not only prepares rice cake soup cookies for pet dogs, but also special snack products such as crucian carp cake cookies and egg tarts.

In addition to Hanbok, you can also find pet accessories such as earrings and ornaments. Of the six pet New Year gift sets launched by Lotte Korea, two were sold out within two days of being launched.

A Lotte Group official said : "Including the Chuseok holiday, sales of companion animal products in September 2020 increased by 21.8% compared with the same period of the previous year, especially nutritional supplements and clothing, which increased by 41.6% and 60.3% respectively. And as people spend more time at home during the holiday holidays this year, spending on companion animals during the Spring Festival will also increase significantly this year. "

According to data from the Korea Rural Economic Research Institute , the size of South Korea's pet economy market reached 3.4 trillion won (19.5 billion yuan) in 2020, and is expected to exceed 6 trillion won (34.5 billion yuan) in 2027. The booming pet market economy is also a new business opportunity for domestic sellers.

South Korea

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