To bring in the community feel, the company will also be offering local events and an in-store community board to support safe, pet-friendly interactions between locals. The locations will also partner with Petco Love to offer adoption services and other relevant health and wellness programs.
With this strategy, Petco is looking to cater to the growing rural population. According to a report by Synergos Technologies, Inc.,14% of the U.S. population lives in rural areas, providing an estimated $7 billion total addressable market in these locations.
“These are rapidly-growing markets where pet parents are looking for an experienced, pet-dedicated partner like Petco to help them care for the health and wellness of their animals,” said Petco CEO Ron Coughlin. “This is an exciting opportunity for us to serve more pets by dramatically expanding local access to healthy pet products and services.”
Continued Expansion and Growth
Petco’s rural community pilot is just the latest effort to expand the company into new categories and elevate the consumer experience.
Recently, the company launched a new concept store in San Marcos, California. The remodeled store has a refreshed layout which includes a robust nutrition center, digital signage to improve store navigation, integrated check-in for veterinary services and grooming, and dedicated areas for BOPIS and curbside order pickup.
The company has also entered a retail partnership with Lowe’s, launching with a pilot store at Lowe’s Alamo Ranch in Texas in early February. The companies expect Lowe’s + Petco to expand to 14 additional Lowe’s locations in Texas, North Carolina, and South Carolina by the end of March 2022.
Additionally, Petco is looking to grow its loyalty efforts. Petco Health and Wellness Company, Inc. recently expanded the benefits for its paid membership plan, Vital Care, adding new dog-related rewards, introducing a plan tailored for cats, and taking the next step in retail partnerships by allowing employees and customers of retail partners to use Vital Care rewards. The affiliate program includes Rover.com, the San Diego Padres, Companion Protect, Central Garden & Pet, and more.
We include Petco among 2022’s best store transformations so far. See who else is making strides in new store models: Walmart, Starbucks, Petco, and More: Best Retail Store Transformations.