Many families around the world have pets and care deeply about their well-being. As a result, pet supplies, toys, and ornamental items are popular products on numerous e-commerce sites. The pet economy has provided numerous prospects for pet toy companies. At this year's Hong Kong Toy Fair, a unique section was dedicated to pet toys, assisting businesses in moving forward and seizing opportunities.
Vast Market Potential
According to market research firm AMA Research, the UK spends £3 billion on pet supplies each year, with pet toys accounting for more than £100 million. The American Pet Products Association (APPA) reports that Americans spent $60.28 billion on their pets in 2015, which grew to $63.76 billion in 2016. In the United Kingdom, most pet owners consider their pets to be family members. According to a survey of 900 pet owners, 91% buy Christmas gifts for their pets, demonstrating the value of pets to their owners.
Rapid Expansion in E-commerce
The growth of the pet market has created numerous prospects for pet e-commerce. According to studies, the scale of pet e-commerce has increased by 15% to 20% in recent years. The Animal Rescue Site - GreaterGood is the world's most popular pet website, with around 120,000 orders per day. Pet toys are ranked fourth among pet supplies on Amazon.
Unique Promotional Strategies by Merchants
How can one carve up a niche in the booming pet toy market? Foreign merchants' marketing tactics for pet toys can be extended to the broader toy market.
Research Market Profitability
Before joining the pet toy business, it is critical to thoroughly research the many types of pet toys rather than simply selling generic products in quantity. Listed below are some product categories with high market potential:
- Multifunctional Pet Toys: These products can inspire pets to participate in a variety of games while also improving their physical fitness.
- Educational Training Toys: Ideal for pets transitioning to new situations or with special training requirements.
- Specialty Toys for Different Pet Ages and Health Conditions: There is a strong demand for toys created for puppies, older dogs, and pets with special health conditions, such as obesity due to overindulgence or a bad diet.
Understand Pet Owners' Psychology
Pet owners are your marketing targets, not the pets themselves. Therefore, knowing the psychology of pet owners is vital. For example, providing eco-friendly toys may appeal to pet owners who are also environmentalists.
Once you've identified a niche market, you need to cultivate it thoroughly. Consider offering some freebies during the early sales process to build confidence with pet owners, paving the path for future recommendations of more expensive and diverse products.
Choose the Right Suppliers
If you only want to offer inexpensive, basic pet toys, internet wholesalers would suffice. To expand your business, you must devote time to researching and selecting items. First, determine which products stand out. This demands devotion and expertise. Once you've identified potential products, contact the producers directly to get supplies and arrange agency agreements. When negotiating rates, keep unit costs, listing fees, agency fees, packaging, and shipping expenses in mind to better comprehend your pricing advantages and drawbacks in comparison to competitors.
Select the Best Sales Channels
Sales channels include brick-and-mortar businesses and flea markets, as well as online platforms such as Amazon and eBay. Offline, you should examine possible business sites and sales points in your neighborhood, monitoring pet owners' behavior. Because many pet owners make spontaneous purchases, knowing their distribution and spending habits will help you select the best sales venues. You can establish your own sales website using e-commerce technologies such as Shopify.
Product pairing is equally important after picking sales channels. For example, combining senior pet toys with pet health supplements or multifunctional pet accessories with pet toys increases the possibility of resolving pet owners' concerns.
Once you've entered a new field and established your products and channels, you must constantly develop yourself rather than waiting for clients to arrive. Browse professional websites such as Pet Business World to get industry knowledge and improve your business skills.
Feisuopet, Your Preferred Wholesaler
When it comes to product suppliers, Feisuopet, a well-known pet supplies wholesaler, is an absolute must-have. Feisuopet provides a diverse selection of high-quality pet supplies and toys, catering to a variety of specialized markets and assisting companies in finding the products they need. Partnering with Feisuopet means that you not only acquire quality items but also receive competent customer service and flexible procurement solutions, allowing your pet supply business to grow steadily.
Finally, by riding the wave of the pet economy and picking the correct products and providers, such as Feisuopet, you may dominate the pet toy market.
