The Annual CMO Spend Survey Research 2020: Part 1
The initiative reflects multiple trends, both past and present. As consumers spend more time at home during the COVID-19 crisis, they began to rely on the internet for both essential and entertainment services. As such, consumer behavior shifted to a growing share of traffic coming from desktop, surging by between 50% and 70% according to Gartner’s report on the topic. That in mind, Petco’s decision to marry the two coveted categories in one video presentation makes sense. Additionally, dog adoption skyrocketed during the crisis, causing consumers began to spend more time and money on their furry friends as they realized the value of pets during lockdown after lockdown. It also echoes the consumer desire for social shopping, the hybrid between social media and online shopping that’s been sweeping platforms and ultimately, shortening the path to purchase. Notably, the fashion show also features Petco’s eco-friendly line, Youly, which debuted in 2020, in a nod to the sustainability trend.
Petco recently rebranded itself as a “pet health and wellness company” and went public earlier this year. By executing a digital-first approach , the retailer sets the tone for its future as a pet supply powerhouse.