562In recent years, the "pet economy" boom has continued to heat up, with surging demand in the pet market, and smart pet products have gradually become one of the hottest segments in the market.
Petkit, as an outstanding player in this field, has achieved dual success in both domestic and international markets thanks to its excellent innovation capabilities and keen market sense. As of 2022,its annual sales have exceeded 1 billion yuan.
01 From Smart Wearables to Multi-category Layout
Founded in 2013, Petkit's founders Guo Weixue and Guo Weike keenly captured pet owners' demand for high-tech pet products and launched the first smart pet wearable device. This device can record pet activity data, helping owners better understand their pets' health status.
Petkit's product philosophy is very clear: to use technology to enter the world of pets and listen to their needs, providing intelligent, innovative, and high-quality products and services for pets. On this basis, Petkit has gradually expanded its product line,covering all aspects of pets' eating, drinking, living, traveling, cleaning, and playing.
After establishing a foothold in the domestic market, Petkit began to enter the international market in 2017, leveraging cross-border e-commerce platforms to bring its products to the world.
After seven years of unremitting efforts, Petkit's users nowspan more than 40 countries and markets worldwide, serving millions of pet families.As of 2022, Petkit's annual sales have exceeded 1 billion yuan, especially in theUnited States market, where Petkit has become the first choice for many pet owners, with sales continuing to rise.
In addition, according to a report by Future Market Insights,the global smart pet products market is expected to grow at a compound annual growth rate of 19.5% from 2024 to 2034, with the market size approaching $6 billion by 2024.The huge market demand provides tremendous development opportunities for smart pet product brands.
Smart pet products market size data Source: Future Market Insights
Besides Petkit, brands such as Catlink, Hoopet, and Crazy Dog have also achieved remarkable results in this field. Since its establishment in 2017, Catlink has rapidly risen in the global market with its innovative AI smart litter box and other products, expanding its business to 106 countries and regions.
Catlink's business has successfully expanded to 106 countries and regions Source: Catlink
02 Dual Approach: Product Strength and Brand Strategy
Product strength is the cornerstone of Petkit's success. The brand has a strong R&D team focused on innovative design and technological breakthroughs. Each product undergoes thousands of tests before launch to ensure its performance and reliability. Rather than chasing explosive hits, Petkit pays more attention to deepening its core products, continuously iterating and innovating.
Take the PURA MAX smart litter box as an example. This product not only raised over one million US dollars on the Indiegogo platform, but also set the highest sales record for smart litter boxes on the platform.
This success not only demonstrates Petkit's strength in product development, but also earned the brand a good reputation in the international market.
In terms of channel layout,Petkit adopts a dual approach of third-party platforms and DTC independent sites. On one hand, it reaches consumers widely through mainstream overseas e-commerce platforms such as Amazon; on the other hand, it builds brand loyalty by accumulating private domain traffic through independent sites.
In addition, Petkit has also chosen to leverage overseas crowdfunding channels to test market feedback and promote new products globally through crowdfunding platforms.
03 User-oriented Thinking Leads Brand Development
The evolution of human-pet relationships has made pets increasingly important in families. Petkit understands this trend well and provides pet owners with a better pet-raising experience through intelligent products.
For example, smart feeders can record pets' daily food intake and judge their health status through changes in appetite; smart litter boxes can record pets' excretion volume, helping owners judge their pets' urinary health.
Petkit's product strategy is not only to meet the needs of pet owners, but also to truly care about pets' health and happiness from the pets' perspective. It is this pet-centered product philosophy that has earned Petkit widespread recognition and trust in the global market.
In the process of exploring overseas markets, Petkit has also made great efforts inuser operation and localized marketing. For example, on Instagram and TikTok, Petkit has released a large number of videos about pet care and product usage, deeply interacting with users, and collaborating with pet KOLs to release unboxing videos and product recommendation content, greatly enhancing brand exposure and user stickiness.
In response to the consumption habits and local customs of different countries and regions, Petkit has also formulateddifferentiated operation strategies, striving to meet the needs of people in different countries and regions.
Overall, through innovative products and precise market positioning, Petkit has successfully transformed from a domestic sales champion to a global hit. Its success in the smart pet products market not only demonstrates strong product strength and brand strategy, but also reflects its user-centered business philosophy.
Against the backdrop of the rapid expansion of the global smart pet market, Petkit is expected to continue leading industry development and create even more brilliant achievements.
