digital sales stock

Sales of digital pet care products and services in 2020 are expected to top $27 billion, with the e-commerce sale of pet products accounting for the lion’s share, according to market research firm Packaged Facts. All sectors are poised to outpace the overall pet market’s forecasted 2019-2024 compound annual growth rate of 5.4 percent, officials added.

Sales of app-based pet care services will likely continue to remain soft through 2021, due to the ongoing stay-at-home and social distancing measures and travel slump that have negatively impacted home-based pet care services across the board.

During the past few years, sales of internet-connected and Bluetooth-enabled pet products have proliferated while outpacing the overall market growth average. Venture-capitalist-backed, app-based pet care sitting and walking services such as Rover and Wag! have broadsided the traditional non-medical pet services paradigm. Meanwhile, veterinary telemedicine services have begun to move into the mainstream.

In the newly published study Digital Pet Care Products and Services: E-commerce and E-connectivity, Packaged Facts reports that e-commerce made enormous strides between 2015 and 2019 and will grow to 35 percent of pet product sales by 2024. This projected growth would make the internet the top pet market channel in the years ahead, officials noted.