Though Mao Zedong used to ban pets’ owning, considering it a “bourgeois hobby,” owning an animal is now seen as a symbol of financial success and therefore, a goal to reach. There are ideas and stereotypes that Westerners may have about the Chinese regarding the consumption of “pet” meat. But the Chinese love animals and consider them as a member of the family.
The boom of the pet industry in China
The emergence of “cat bars” across the country is a good example of their interest in pets. This tendency is also favored by the influence of the KOLs, especially on the younger generation, because many celebrities do not hesitate to show off on social networks with their animals (Angelababy, Liu Yifei, Fan Bingbing, etc). This trend had already raised the number of pets to over 150 million through the whole country. Dogs are by far the favorite. Pet owners are expected to spend not far from $ 7 billion by 2022, resulting in a steady growth in this market of around 20% according to Euromonitor. There is thus no doubt that this is a market to conquer in China.
Future of the Pet Market in China
Indeed, the pet market is not yet very developed in China, but it looks very promising in the future. Several factors can guarantee its future success:
- The emergence of the middle class
With the economic development of China, the population has seen its purchasing power increase and millions of Chinese have been able to join the middle class. Estimates predict that in 15 years, more than a third of the population will fit into this category. Since this class can afford a better standard of living in their home, they will do the same for their pets if they have one, since they are considered members of the family.
- Enrichment more and younger
Compared to previous generations, the Chinese are getting richer and earlier. Having a pet is usually one of their dreams when they become independent and financially empowered.
- The lifestyle of young workers
73% of pet owners are between 20 and 35 years old. Often, an animal is a way to fill the loneliness they can feel while being single. Because it can be difficult to find a partner, as work and social pressure punctuate their lives. But even when they find love, Chinese couples tend more and more to delay the moment of marriage and the conception of children. A pet is therefore appreciated when creating a home, which they consider as their own child before having one.
- The stress of city life
The intense pace in mega-cities such as Shanghai, Beijing or Guangzhou can be particularly stressful. It is therefore pleasant for the Chinese to return home knowing that their animal will be happy to meet them after their long day of work. Many less well-off people also own pets for this reason.
- The aging of the population
Some studies have shown that more and more seniors are choosing to buy a pet for a more enjoyable retirement. The aging of the population, therefore, ensures the growth of this market.
- Government’s support
Some laws about pet ownership have been improved and changed. For example, the dog possession authorization fee has been increased from $ 285 a year to $ 42 only. A big fair about pets is also organized every year in Shanghai: Pet Fair Asia. It experiences growing success.
China’s New Passion for Pets
This market was even picked as one of the most promising for 2018 according to Thomas Kwan, of the Hong Kong investment firm Harvest Global. The advantage of choosing the pet sector is that, in addition to expanding, it remains wide and varied. Everything about this market can be prosperous: food, clothing, toys, connected accessories, medical treatments, vaccines, grooming salons, etc. But where the expectations are the highest for the future of this market are in services and high-end products. It would be wise to invest in organic food for animals, quality clothing, and salons offering unusual activities, such as spa or manicure services. The Chinese are today eager to bring a lifestyle as good to their animals as to their children, which was far from the case in the past. With this emerging market, China will turn into a real investment magnet for companies in this field. But how to take advantage of this opportunity and maximize its success in the Chinese market?
Before entering such a complex market, one must understand and know how to seduce Chinese consumers. With the enrichment of China and its people came the modernization and digitization of their entire society. It is, therefore, necessary to adapt its management strategy and its marketing channels. It takes time and investment, but some specialized agencies in the Chinese market are here to help! This is the case of Gentlemen Marketing Agency, the number 1 digital marketing agency in the country.
For more information on our services and strategy to always remain the best in the market, you can check out our website.
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