In terms of pet services and pet medical care, according to statistics, there are 112,500 self-operated pet stores and pet hospitals across the country. At present, there is no APP platform dedicated to providing pet merchant services with an absolute share in the market.
Among them, Meituan, a comprehensive merchant platform, provides pet merchants' entry services and adopts a transaction commission country email list model; Pethome is an exclusive APP for self-operated chain pet stores, providing online services only for Pethome's self-operated merchants; Boqi has also tried to explore offline merchants On the road of integration, at present, there is only an entry for "in-store service" in the APP, but there is no substantive content, which shows that its integration business has no actual results.
Pet merchant service is a market and direction to be further developed. In the field of pet e-commerce, traditional e-commerce platforms such as Taobao, JD.com, and Pinduoduo are in the first echelon relying on their platform volume, which is supported by a large number of merchants on the platform, and a single merchant does not occupy an absolute market position; The vertical e-commerce in the pet field such as Qi and E pet is in the second echelon, and private e-commerce such as WeChat occupies other online shares.
According to the report, in fiscal year 2021, Boqi Pet’s total revenue reached 1.01 billion yuan, gross profit increased to 9.2% after the order was fulfilled, and ARPU (average user consumption) reached 634.8 yuan, up 33.2% year-on-year, fully demonstrating “it However, nearly 70% of Boqi Pet's total revenue comes from traditional e-commerce platforms, and only 31% of the share comes from its own platform, so there is still huge room for development of pet vertical e-commerce.