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Other categories that performed well included pet products, toys, and apparel. A promising start: The early results are an encouraging sign for Alibaba and China鈥檚 retail landscape writ large鈥攂ut they also highlight the highly price-conscious environment retailers in China face as consumers hold off until major sales events to begin spending in earnest.

All of the retailer鈥檚 stores were recently updated to its latest format, which includes a refreshed layout and a larger assortment of branded cosmetics, d茅cor, toys, DIY options, books, and specialty pet options. The redesigned loyalty program, which will debut by the end of the year, awards points for each dollar spent in addition to perks like birthday rewards and double points days.

Pet care and veterinary services had the lowest average abandonment rate in July 2024 at 52.8%, with a 12-month average of 56.1%. This might be due to the necessity-based nature of many purchases in this category, where pet owners are more likely to purchase essential products like food or medications.

Then there are the AI-powered pet devices, AI-enhanced pillows that reduce snoring, and AI birding binoculars. The 2024 outlook for AI is strong despite a litany of challenges ahead for the sector. By 2025, 34.0% of the US population will be using generative AI (genAI), up from 22.9% in 2023.

Chewy鈥檚 growth has slowed, but the pet category still holds promise. The maturing pet retailer will face new struggles to sustain growth. But it鈥檚 better positioned than other specialized retailers and will grow faster than most major ecommerce players in 2023. The pandemic pet boom accelerated Chewy鈥檚 maturity. The company was already growing swiftly prior to the pandemic.

Products for pets and animals hit the sweet spot for both metrics. While it did not command the highest retention rate, customers who stuck with pet and animal products subscriptions spent considerably more than subscribers in other categories. How should brands and retailers approach subscription ecommerce? Focus on value and convenience.

When a customer lands on Ruggable鈥檚 site after searching for 鈥渄og-friendly rugs,鈥� they are shown personalized content based on that search, displaying rugs that are durable and pet-friendly. Ruggable also integrated AI-driven visual tools that allow customers to see what a specific rug might look like in their space.

Pet products are ideal for D2C ecommerce. With 38.4% of sales coming via ecommerce this year, pet products have already seen a pronounced shift online. Kibble, for example, with its heavy and quickly disappearing bags, is a routine purchase many pet-owning households prefer to automate. Health and personal care 鈥渄aily ritual鈥� products have D2C potential.

Spending on pet costumes remains steady, reaching $700 million this year. What it means: Retailers need to offer a wide variety of products at competitive prices. Creating a one-stop Halloween shop can help draw customers in, who then may browse and buy other items. This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.

A data collaboration platform that runs on a DCR and privacy-enhancing technologies (PETs) provides a framework for networks and brands to build segmented audiences鈥攚ithout either side becoming exposed to user-level data鈥攅nsuring that proprietary business information is kept private. Looking under the hood: Not all DCR- and PET-powered collaboration platforms are created equal.

The meal kit craze may be over, but never underestimate how much people love their pets. Nearly three-quarters (74%) of pet owners are willing to spend more on pet foods with extra health and wellness benefits, according to Chewy. Chewy currently carries thousands of pet food brands, but the online retailer could expand that by offering already-prepared pet meals.

Pet products, which will see an even bigger digital takeover, are included in this category. By 2028, nearly half (49.7%) of pet product purchases will come from ecommerce channels. 鈥淭he sky鈥檚 the limit for how big this category can get,鈥� Droesch said.

International insurtech Cover Genius offers embedded policies across travel, pet, property, auto, and warranties. It has received over $165 million in funding since launching in 2014, including $70 million in November 2022 to expand its offering.

It hosted Amazon Gaming Week from April 30 through May 5, and Amazon Pet Day begins on May 7. Amazon is increasingly using seasonal or category-specific events to drive sales and build awareness of its growing selection of name brands. The events also boost retail media spending as brands aim to ensure they are front and center during the sale.

AI companies are bullish on privacy-enhancing technologies (PETs). For example, companies can use differential privacy鈥攁dding statistical noise to anonymized data sets to prevent reidentification鈥攖o reduce the risks associated with training AI models on sensitive data. It鈥檚 best to use multiple PETs to strengthen privacy protections, but they still won鈥檛 solve the data removal problem.

Baby boomers prioritize pharmacy/health products and pet supplies in their top 10 purchases. As an established generation more likely to downsize than dramatically grow their household, boomers have redirected digital purchases toward personal care and their animal companions.

Companies in the pet, fitness, and leisure categories are particularly suited to this, as these activities tend to bring people together, per Mintel. But food, beverage, and beauty companies may want to shift their products centered around solo routines to be more social.

Pet products already hit 36.0% penetration, while food and beverage remains lower. Grocery remains a huge ecommerce opportunity, though Lipsman notes that in the 鈥渆ndless aisle鈥� of online shopping, brands will need to be competitive in pricing and marketing within retail media channels to win shoppers. 2. Shoppers want low prices.

Other retail includes categories that fall outside of those mentioned, such as mail order/catalog, appliances, pet products, restaurant and bars and equipment and supplies, food delivery services, hobby items such as collectibles, musical instruments, wholesalers, and general merchandise. The retail industry will steady the US digital ad market.

Amazon鈥檚 US ecommerce sales of pet products will reach $11.78 billion this year, 2.4% of Amazon鈥檚 total ecommerce sales in the US, per our forecast. But sales growth is slowing from a high of 38.3% in 2021 to 11.3% in 2024. Use this chart:. Highlight categories where Amazon shoppers may be open to shopping elsewhere.

So far this year, Amazon has hosted at least five separate sales events: the Big Spring Sale (March 20 to 25), Amazon Pet Day (May 7 to 8), Amazon Book Sale (May 15 to May 20), Amazon Summer Beauty Haul (May 13 to May 19), and Amazon鈥檚 Memorial Day sale (May 20 to 27).

The price must be right: Consumers this year have been holding out on nonessential purchases at pet, office supply, and home improvement stores, meaning retailers may need to lean into deals to inspire discretionary purchases, per Placer.ai.