DataWeave Releases 2023 eCommerce Petcare Report: Pet Food Stock Availability Rallies, Along With Growth
Seattle, WA
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April 03, 2023 09:30 AM Eastern Daylight Time
- Stock Availability shot up from 52% in 2021 to 76% in 2022
- Discounting rose sharply in 2022 from 2021 levels
- Top 3 pet food brands account for half of all share of eCommerce search results
- Some signs of a swing from shortage to inventory overstock
DataWeave, a leading provider of Competitive Intelligence and Digital Shelf Analytics for consumer brands and retailers globally, released its 2023 Petcare eCommerce Report: how brands can leverage digital shelf analytics to grow their sales and market share profitability. The report provides a data-rich overview of the online petcare market, with stock availability, discounting, and online search trends across retailers and brands. DataWeave analyzes price changes and assortment composition by brand and retailer in light of market dynamics and fluctuating macroeconomic environments. Analyzing thousands of leading brand petcare SKUs, the report offers insights into the current state of the online pet food market as global supply chain pressures have eased.
DataWeave’s 2023 Petcare eCommerce Report indicates dramatic year-over-year shifts in product availability, a signal that Covid-driven supply chain challenges not only lifted but swung into reverse across brands at about the same time. “Our analysis on these aspects of nationwide online petcare availability provides insight into how quickly the supply chain has bounced back from the pandemic crisis. This has amounted to a significant 24 percentage point rise in availability, and, it could be said, in some cases brands being overstocked,” said Karthik Bettadapura, CEO of DataWeave. “Our report on the eCommerce petcare sector makes the connection between these greatly improved stock levels, discounting, and share of search.”
The 2023 PetCare eCommerce Report analyzes prices across all products in the petcare category, finding that discounting strategies across brands are quite divergent, with some of the top brands operating within a limited range of discounting while other brands priced their products at the extreme ends of the spectrum. The report also looks into differences between dog and cat food availability, with some surprising findings indicating clear consumer preferences.
Almost half the share of products in the top 10 search results for relevant non-branded search keywords in 2022 were held by the top three brands, Hill’s Pet, Mars and Nestlé, the report found. Data analysis also revealed that several new, small-scale brands recently entering the market are gaining more share, including Chicken Soup for the Soul, Justfoodfordogs, Stella & Chewy’s, Tiki, Victor, and Open Farm.
“As one of the largest categories in CPG eCommerce, petcare brands increasingly need to build a holistic approach to winning online,” said Krish Thyagarajan, President and COO of DataWeave. “With the tight consumer market we’re experiencing, this includes keeping an eye on their online presence and benchmarking their performance against competitors every single day. We see our 2023 Petcare eCommerce Report as a view into the highly dynamic nature of the online petcare market as inflation continues to dominate the consumer mindset, while informing brands and retailers in the industry on best practices.”
Report Methodology
To come to its findings, DataWeave tracked the data of 5,000+ SKUs to analyze stock availability and discounts, and 100,000+ SKUs to analyze the share of search for leading petcare brands in the U.S. The timeline of the analysis spans October to December of 2021 and all of 2022 to capture the state of the market during the more dynamic holiday seasons.
DataWeave is an SaaS-based digital commerce analytics platform that provides competitive intelligence to retailers and digital shelf analytics to consumer brands globally. With DataWeave, retailers can make smarter pricing and merchandising decisions while consumer brands can optimize their digital shelf for KPIs like share of search, content quality, price competitiveness, and stock availability. DataWeave’s AI-powered proprietary technology aggregates and delivers actionable eCommerce insights across 500+ billion data points globally, 400,000 brands, 1,500+ websites, 20+ verticals, and 25+ languages. Learn more at DataWeave.com.
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Meir Kahtan Public Relations, LLC
Meir Kahtan
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