Attention on 'IT Pet Services' Capturing the Hearts of Pet Owners

Growth of Pet Product Startups and Related Companies Integrating IT Technology Amid COVID-19 Recession

Despite the ongoing recession caused by the novel coronavirus disease (COVID-19), the pet market continues to show steady growth due to the increase in people staying at home. Photo by Getty Images

[Asia Economy Reporter Kim Heeyoon] Despite the ongoing recession caused by the novel coronavirus disease (COVID-19), the pet market continues to show steady growth due to the increase in people staying at home.

According to the industry on the 20th, as the domestic pet population reaches ten million, pet services incorporating various IT technologies are gaining attention.

Industry insiders evaluated that customer-friendly solutions, such as providing 1:1 customized services for consumers living with dogs and cats, have led to good results. In particular, pet companies that showed remarkable growth share the commonality of achieving good results through collaboration with advanced B2B SaaS (business software services).

Pet Friends, a pet-exclusive shopping mall, recently achieved a high repurchase rate of 83%, securing a large number of loyal customers. Pet Friends introduced the online customer consultation chat service ‘Channel Talk’ to conduct professional consultations, receiving positive responses. With Channel Talk’s chat consultation function, customers can have online consultations 24 hours a day, and the platform is actively used as an integrated platform that solves everything from marketing to CS by introducing new products to new customers and providing customized pet-related information to existing customers.

Pet goods commerce 'Bacon Box' utilized Channel Talk’s marketing features to send additional benefit messages to customers who abandoned the payment page, increasing the purchase conversion rate, which had remained at 1%, by more than eight times. Meanwhile, the pet food specialty shopping mall 'Purple Store' succeeded in leading a high purchase conversion rate and sales increase, with 70% of Channel Talk consultation customers resulting in actual sales.

Channel Talk is an online customer consultation B2B SaaS service that acts as a kind of ‘online store clerk.’ Without the hassle of a complicated development process, Channel Talk services can be subscribed to and utilized with simple installation, making it an essential solution for small and medium online businesses.

The pet lifestyle brand ‘Areureu’ surpassed 10 billion KRW in sales as of October this year. Areureu explained that after introducing the ‘V Review’ video review service, it was able to provide customers with vivid reviews and build a positive image.

V Review is Korea’s first AI-based video review service provided by Indent Corporation. According to Indent, it offers advanced services to startups that find it difficult to build video review platforms in the pet supplies market, helping companies easily collect video reviews and achieve sales growth and brand development.

V Review, a B2B SaaS developed with proprietary patented technology, is a one-stop platform where an AI chatbot collects video reviews from actual buyers and automatically uploads them to online shopping malls. V Review’s video reviews are highly efficient, increasing cart conversion rates by more than 20.97%, and currently about 1,700 shopping mall sites have adopted V Review, achieving sales growth results.

An Indent Corporation official said, "As the domestic pet ownership population and related market size expand, pet product reviews are also rapidly increasing," adding, "An analysis of videos uploaded to the V Review platform last month showed that pet product-related video reviews were the second most registered category among all review categories, and the video review market is expected to grow further in the future."