Pet e-commerce is China’s new trend
Meituan and JD Daojia, two major on-demand delivery service providers in China, have both recently struck partnership with the leading pet service New Ruiping, signalling that having purchased online necessities for pets delivered home will be just as easy as ordering waimai (food delivery). Another pet e-commerce platform Boqii is working with partners on incorporating everything about pets in one single site. It is now under the process of filing for a listing with a fundraising goal of $115 million. The size of the pet industry has tripled to $30.2 billion over the past five years, and is expecting to further double by 2024.