“These are rapidly growing markets where pet owners are looking for an experienced, dedicated pet partner like Petco to help them care for the health and well-being of their pets,” said the CEO of Petco, Ron Coughlin. “This is an exciting opportunity for us to serve more pets by dramatically expanding local access to healthy pet products and services.”
Petco’s new Neighborhood Farm & Pet Supply pet care centers offer all-new stand-alone outlets strategically and conveniently located in the heart of small towns and rural communities. Offering pet-focused assistance and an assortment of high-quality pet care products and services that Petco is known for, while leveraging the strength of the company’s omnichannel ecosystem, Petco’s Neighborhood Farm & Pet Supply animal care will serve as one-stop-shops for health and wellness solutions for pets and farm animals such as horses, cows, pigs, sheep, goats and more Again.
With 14% of the US population living in rural areas and this number growing rapidly, it is estimated $7 billion total addressable market in small towns and rural areas*, providing Petco with the opportunity to capture significant additional market share and share of wallet gains. According to the Economic Innovation Group and federal statistics, more than two-thirds of large urban counties saw population declines in 2021 — an exceptionally high share by historical standards. Additionally, for the first time in 50 years, counties with an urban center and more than 250,000 residents experienced negative growth as a category. Exurban counties saw the greatest increase in population growth across all areas, with approximately 80% new residents.
The launch of the testing concept is expected to inaugurate a handful of Neighborhood Farm & Pet Supply pet care centers in 2022, and bring Petco’s curated assortment of products and services faster and more cost-effectively than national and regional players. , thanks to differentiated digital. fulfillment offers. To satisfy high customer interest in a specialty retailer of farm and pet food and supplies, Petco’s full line of offerings will include:
- High quality power supply
- Assortment of agricultural products and animal feed
- live pets
- Mobile vaccination and grooming services
- Car wash stations
- Same day delivery
- Buy online, pick up in store
- Curbside pickup
Suitable for pets and farm animals of all shapes and sizes, Pet Care Centers will also serve as safe community gathering and connection spots. Each location will offer local events and in-store community advice to foster safe and animal-friendly interaction between neighbors. In partnership with Petco Love (formerly Petco Foundation), the Neighborhood Farm and Pet Supply Sites will offer adoption services and other health and wellness programs to further support local pets .
*Source: Synergos Technologies, Inc. Popstats demographic data, Q4 2021.
About Petco, The Health + Wellness Co.:
Founded in 1965, Petco is a category-defining health and wellness company focused on improving the lives of pets, pet parents, and our own Petco Partners. We have consistently set new standards in pet care while providing comprehensive pet wellness products, services and solutions, and building communities that deepen the pet-pet bond. . We operate over 1,500 pet care centers across the United States, Mexico and Porto Rico, which offer merchandise, pets, grooming, training and a growing network of on-site veterinary hospitals and mobile veterinary clinics. Our comprehensive pet health and wellness ecosystem can be accessed through our Pet Care Centers and digitally on petco.com and the Petco App. In tandem with Petco Love (formerly the Petco Foundation), an independent, non-profit organization, we work with and support thousands of local animal welfare groups across the country and, through in-store adoption events, we’ve helped find homes for over 6.5 million animals.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding expectations, beliefs, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements other than statements of historical fact. Although Petco believes that the expectations and assumptions reflected in these statements are reasonable, there can be no assurance that such expectations will prove to be correct. Forward-looking statements are subject to numerous risks and uncertainties, including risk factors that Petco identifies in its filings with the Securities and Exchange Commission, and actual results may differ materially from the results discussed in such forward-looking statements. Petco undertakes no obligation to update publicly any forward-looking statements it may make, whether as a result of new information, future events or otherwise, except as required by law, regulation or other relevant legal authority. requires it.
SOURCE Petco Health and Wellness Company, Inc.