Pet sales leapfrog last year's numbers

chinadaily.com.cn | Updated: 2020-07-07 13:59
A boy looks at a cat at the 7th Universal Cat Association exhibition held in Shenyang, Liaoning province, on July 4, 2020. [Photo/Sipa]

China's pet market is expected to hit 295.3 billion yuan ($42.08 billion) this year, up from a figure of 221.2 billion yuan in 2019, according to market consultancy iMedia Research.

The consultancy said cats and dogs remain the main pet types, and niche pet supplies saw a clear upward trend, with supplies for insect sales surging over 200 percent year-on-year as well as supply sales for hamsters, reptiles and rabbits increasing nearly 100 percent.

Among pet owners, 46.3 percent are in the post-80's generation and 20.3 percent are in the post-90's generation; moreover, over 30 percent of pet owners' monthly income surpasses 8,000 yuan. Owners with a bachelor's or graduate degree account for 59.5 percent and 5.8 percent, respectively.

During the COVID-19 epidemic, pet livestreaming on online shopping platforms jumped 375 percent year-on-year, with daily audience numbers surpassed 1 million. In March, pet sales grow nearly 1.5 times from the same period last year.

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