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During the pandemic, the pet industry has flourished as people forced to stay at home have sought companionship in furry friends. Last year alone, the pet industry generated a record $103.6 billion in sales, a 6.7% increase from 2019. This boom has created ideal conditions for pet companies to thrive. Recently, e-commerce brand BARK reported an 80% increase in their fourth quarter revenue from last year. Just last week, BARK went public and is now The Original Bark Company, parent to BarkBox, a monthly subscription service that delivers dog products and treats.
The Chewy Challenge
Despite its success, BarkBox faces stiff competition from Chewy, an e-commerce pet supply company that also sells boxes for dogs and cats. However, instead of subscription boxes, Chewy provides boxes in special categories, such as Birthday and Potty Training Boxes. Chewy’s unique customer loyalty program gives the company a unique advantage over BARK. After shoppers purchase Chewy products, the retailer sends them a free oil painting of their pet designed from their online profile. Chewy has also been more lucrative, achieving its first quarter of net profitability last year while BARK is still striving to meet this goal. Which pet company will reign supreme? Only time will tell.
Which online pet retailer seems more appealing to you? Let us know in the comments!
This article is originally published on GREY Journal.