
A Snapshot of the Emerging Challenges in the Pet Retail Market
This communiquรฉ from YRC, a retail and eCommerce consulting firm, highlights key emerging challenges in the pet retail market, focusing on the Middle East.
๐๐ฟ๐ผ๐๐ถ๐ป๐ด ๐๐ฟ๐ผ๐๐-๐๐ต๐ฎ๐ป๐ป๐ฒ๐น ๐๐ผ๐บ๐ฝ๐ฒ๐๐ถ๐๐ถ๐ผ๐ป
For a long time, the pet retail market was ruled by traditional, ๐ฏ๐ฟ๐ถ๐ฐ๐ธ-๐ฎ๐ป๐ฑ-๐บ๐ผ๐ฟ๐๐ฎ๐ฟ ๐ฟ๐ฒ๐๐ฎ๐ถ๐น stores. That has changed today with eCommerce and omnichannel ways of doing business. Today, businesses in the pet retail market face competition from all channels โ online, offline, multichannel, and omnichannel. This competition is also cross-channel now meaning online sales of an enterprise may face competition from offline sales of a competitor. The ability of eCommerce retail platforms and independent online brands to offer competitive prices to customers remains a challenge for traditional retail pet businesses. However, small businesses in the form of traditional pet stores have the advantage of a better understanding of local markets and consumer behaviour. With a long stint in ๐ฝ๐ฒ๐ ๐ฟ๐ฒ๐๐ฎ๐ถ๐น ๐ฐ๐ผ๐ป๐๐๐น๐๐ถ๐ป๐ด, YRC underscores the importance of going omnichannel for online and offline pet retail brands and businesses.
Get advise for E-commerce retail business : https://www.yourretailcoach.ae/contact-us/
๐๐ฒ๐๐ฒ๐ฟ๐ฎ๐ด๐ถ๐ป๐ด ๐ฆ๐ผ๐ฐ๐ถ๐ฎ๐น ๐ ๐ฒ๐ฑ๐ถ๐ฎ
Every business owner realises the immense potential of social media but over the years, it has become challenging to extract much of tangible results from social media. The first big factor is algorithms. Social media platforms often keep making changes in their algorithms. In such a scenario, businesses have to keep updating their social media marketing tactics at shorter intervals. There is very little time to assess the performance of strategies and campaigns.
The second factor is the overwhelming volume of content and country-size base of users on social media platforms. For the purpose of grabbing attention, everyone is a competitor in social media. Organic means to reach out to target audiences have become less effective. These situations are common for all businesses and apply to those in the pet retail industry as well.
Get advise for E-commerce retail business : https://www.yourretailcoach.ae/contact-us/
๐๐ฒ๐ฐ๐ผ๐ฑ๐ถ๐ป๐ด ๐ฃ๐ฒ๐ ๐๐๐บ๐ฎ๐ป๐ถ๐๐ฎ๐๐ถ๐ผ๐ป
Although pet humanisation is not a new phenomenon today, it is a recognised concept in the pet industry. This recognition has helped ๐ฝ๐ฒ๐ ๐ฟ๐ฒ๐๐ฎ๐ถ๐น ๐ฏ๐ฟ๐ฎ๐ป๐ฑ๐ ๐ฎ๐ป๐ฑ ๐ฏ๐๐๐ถ๐ป๐ฒ๐๐๐ฒ๐ to empathise at a deeper level with their customers. However, it is not easy to decode the fallout of pet humanisation. It is a subjective issue revolving around emotions, projections, and the notion of companionship. Now, business owners may have a good understanding of this phenomenon but can employees dealing with customers on the front end accurately portray its nuances? One wrong thing said in words or actions could turn away a customer. This is one of the reasons why YRC strongly recommends pet retail training for the employees of brands and businesses in the pet retail market.
Get advise for E-commerce retail business : https://www.yourretailcoach.ae/contact-us/
Rupal Nikhil Agarwal
YourRetailCoach
+91 98604 26700
consult@mindamend.net
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