Pets increasingly occupy a privileged place within families and this, without a doubt, is beginning to be reflected in household budgets and expenses. According to an analysis carried out by Visa Consulting & Analytics, in Latin America and the Caribbean, transactions made with Visa credentials to pay for items related to the well-being of pets increased more than 30% in the first quarter of 2022.
Now, compared to physical purchases, andThe analysis indicated that the transactions registered in Brazil and Panama were above the average for the region, while in Chile, Costa Rica, the Dominican Republic and Puerto Rico, sales increased between 20% and 30%. On the other hand, in Colombia, Argentina, Peru, Guatemala, Ecuador and Uruguay, the growth of purchases was above 10%.
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However, transactions with Visa through digital channels areí reported a significant increase in the markets of Argentina, Uruguay, Guatemala and Colombia. According to the report, the increase in purchases of products and services related to pets achieved an increase of 40%, in the first quarter of 2022, compared to the same period of 2021. Meanwhile, Brazil, Chile and Ecuador registered a growth between 20% and 30% in online transactions.
For Javier Vázquez, director of Visa Consulting & Analytics for Latin America and the Caribbean, purchases in the pet segment are growing rapidly, especially in digital channels, which shows the importance of online operations.
“We collect and analyze data precisely to assess consumer behavior and provide insights for companies to grow and diversify their businesses (…) This analysis shows that companies that invested in their online operations during the pandemic should keep this channel given that it is attracting more and more users in the region,” said Vázquez.
In addition, the executive added that it is expected that the trend of online purchases continues to be maintained in the region.
platform sales
According to figures from the Mercado Libre platform, so far this year, there has been an 11% increase in sales of the pet category in the marketplace, generating more than 340,000 products sold to date.
“Precisely, within the categories with the greatest movement, pets stand out, since users are increasingly using digital platforms to acquire products in this segment.”, commented Alejandra Camacho, Head of Mercado Libre in Colombia.
Regarding the average ticket on the platform, Camacho highlighted that the value amounts to $69,970. “The best-selling products are those of the Hills brand, such as cat food and gyms. Likewise, in terms of demand, the most sought-after items are also gyms for cats, sanitary sand and premium food for dogs,” Camacho said.
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For its part, the Rappi platform, through its pet vertical, also noted that sales in this segment have been growing in recent months. In addition, the average purchase ticket is located at $123,200.
“Our users always find more than 300 strategic partners in this vertical available on the platform and more than 10,000 unique products for all pet needs. So far this year, the best-selling products in this category are: pet food, medicine and pet grooming,” said Andrés Palacios, director of CPG’s for Rappi Col.
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