For most Australian households, our pets are a ‘furry member of the family’. Over the past decade, as we have broadly become even more affluent, so the lives of our pets have improved as we switch to premium products and services to ensure the best possible care for our pets. As a result, we are spending more on our pets than ever before, and in 2012 this will exceed $7.9 billion dollars across Australia.
The Pet Care industry in Australia is huge… and a “sleeper”. It is primarily a “cottage industry”; highly fragmented and dominated by small businesses which are generally, a long way from implementing best practices in sales, marketing, operations and administration.
Some Pet Care businesses are seeking to gain a stronghold in each segment – traditional bricks and mortar retail, online eCommerce pure plays, vet practice consolidation – but few have taken the time to really understand the unique relationship that we have with our pets and seek to capitalise on that…it is all about our pets and the love we share.
LOVE THAT PET
Love That Pet will combine the unique and unmatched trust that people have in their vet and the Amazing Care that vets provide with Astounding Value pet care products and Awesome Service for pets and pet lovers.
“Amazing Care. Astounding Value. Awesome Service.”
This will be achieved by bringing together:
• Vet services;
• Retail bricks and mortar stores; and
• an Online store
in a single, engaging customer experience which meets all the needs of pet lovers and their pets.
We have commenced with planning and design of the Love That Pet store experience, going to school on the small but growing number of retailers getting it right – Apple, J Crew, JC Penney – merging online and offline into one cohesive presence.
As Ron Johnson, ex Head Of Apple Retail and now CEO of JC Penney department stores recently said “Retail isn’t broken. Stores are. The retailers that win in the future are the ones that start from scratch and figure out how to create fundamentally new types of value for customers.”
Families – Australian families who allocate additional discretionary spending to premium products and services for their “furry family members”
Young Professionals – Young singles and professional couples without children who spend additional discretionary income on premium pet care products and services for their “surrogate children”
Empty Nesters - Older singles and couples who view their pets as a primary companion and are therefore willing to spend more of their discretionary budget on caring for their wellbeing