Product Plan
Problem
Globally, there is a limited number of e-commerce sites that offer one-stop shopping for pet gifting! Only in United States, 67% of U.S. households, or about 85 million families, own a pet, according to the 2019 -2020 National Pet Owners Survey conducted by the American Pet Products Association (APPA). This is up from 56% of U.S. households in 1988, the first year the survey was conducted. This people love to celebrate their pets with love, occasions, and gifts. According to Statista, pet industry expenditure reached 103.6bn USD in 2020 - 2021. But the number of companies exclusively for pet products is very limited.
Solution
PetLovers is an e-commerce business for pet-loving people to buy gifts, goody baskets, pajamas, and other products for pets. PetLovers is an online shopping site where pet owners, pet lovers, and friends of pet owners can celebrate the love their pets bring.
Projected Product Line
(2021-2022)
Gift Baskets
Goody Bags and other gifts
1. Goody bags – Dog
2. Goody bags - Cat
3. Birthday Hat - Dog and Cat
4. Pet Frames - Dog and Cats
Clothing and collars
1. PJs for Dog and Cat
1. All the products of year 1
2. Gift baskets with well-balanced meal options for owners traveling with their pets
1. All products from year 1
2. Goody bags with treats that will relax your pet while traveling
1. PJs for Dog and Cat
2. Identification clothing & collars for travel
1. All the products from year 1 and 2
2. Gift baskets with meals well-balanced options for pet owners
1. All products from year 1 and 2
2. Goody bags with healthy snack options
1. PJs for Dog and Cat
2. Identification clothing & collars for travel
1.Vitamins for pets to promote strong bones and healthy joints
(2022-2023)
(2023-2024)
1. Birthday basket -Dog
2. Birthday basket - Cat
3. New pet gift baskets – Dog
4. New pet gift basket- Cat
5. Sympathy Gift basket- Dog
6. Sympathy Gift basket – Cat
Gift Baskets
Clothing and collars
Goody Bags and other gifts
Pet Carrier
Clothing and collars
Pet Carrier
Gift Baskets
Vitamins
1.Custom pet carriers for travel
2.Pet seatbelts for pet safety
1. Custom pet carriers for travel
Goody Bags and other gifts
Gift Baskets
This product line includes different products to celebrate various occasions and moments with pets. People who do not have pets can also buy these products for their family and friends who have pets.
Our Birthday Baskets include a celebration bandana, birthday watercolor TPR squeaking bone dog toy, squeaking cupcake dog toy, chicken recipe grain-free soft & chewy snacking sticks dog treats, chicken recipe grain-free soft-baked dog and cat treats, birthday peanut butter, molasses & vanilla cake dog treats, birthday cake bites dog treats, cat and dog blankets, lights plush cat toy with catnip, etc.
New pet gift baskets include pet training books, tasty training treats, high-quality regular treats, teething toys, interactive toys, comfy blankets, grooming glove, pets health record book, and journal, etc.
Sympathy gift baskets include a keepsake holder for the pet's collar, pet portrait, stuffed animal, books, jewelry, memorial status, and fill-in the blank memory books.
Gift baskets with well-balanced meal options for owners traveling with their pets include buttercream cookies, an oatmeal raisin cookie, mixed nuts, three-seed crackers, smoked summer sausage and chips for the owner, peanut butter bones, rawhide free wwists, and other healthy snacks for the pets
Goody bags and other gifts
PetLovers Goody bags are a great finishing touch to a pet party. They are perfect for kids' dogs or cats theme birthday parties and dog or cats' birthday parties, pet adoption party or other pet celebration events. Our goody bags items include - puppy party candy bags with thank you stickers, dog goody treat bags featuring popular dogs breeds such as Yorkshire Terrier, Poodle, French bulldog, Beagle, German Shepherd and Pug, as well as bone-shaped thank you stickers, cat toys, and so on.
Shoppers can also buy different gifts like pet birthday hats, pet frames, photos, and blankets.
Clothing and collars
PetLovers sells clothing and collars for pets. For the first three years, we will focus on PJs for dogs and cats and identification clothing & collars for travel. We offer various clothing collections for different seasons and weathers for pets.
Pet Carrier, Seatbelt, And Vitamins
PetLovers will offer custom pet carriers for travel, Pet seatbelts for pet safety in 2023 and 2024.
Pricing Strategy & Comparison with Competitors
PetLovers followed different pricing strategies for the products. Since we have multiple product lines, we followed different approaches for each of the product lines. In some cases, some product pricing followed a combination of multiple pricing strategies.
Competitive pricing
We have followed the competitive pricing strategy for all the products. We consider Cherlys, Chewy, Dogs, Mutts & Mousers Barkbox, and Amazon as our competitors in the USA. So we have set our prices analyzing the prices of the products on those websites. We also give the best rate in seasonal sale periods.
Value-based pricing
The two most important product lines of PetLovers are gift baskets and goody bags. The product description mentions details like size, weight, manufacturer information, quality, and other necessary details. This helps our smart shoppers evaluate the net worth of the product and compare the price with the other companies in the market.
Cost-plus
pricing
For the gift basket, goody bags, and some other products, we also followed the cost-plus pricing method. As a start-up business company, we are adding a very minimum profit percentage to make our position in the pet industry
Economy
pricing
To make our website attractive for online shoppers, we give the best prices for most of our products. Here a buyer gets products within the $5 to $100 price range. We are offering Gift baskets, goody bags, and gifts with different price ranges. We are offering some essential items at lower price prices than our competitors. We are projecting the high sales volume which will ensure our profit on those products.
Price Comparison with Competitors Based on Product Type
Gift BasketS
PetLovers followed a value-based pricing strategy for our products. PetLovers has different types of gift baskets with a price rage from $20 to $65. So any shopper can buy a high quality and a very well-decorated gift basket with in her budget. Analyzing the competitors, we found that Chewy.com does not sell specially birthday / sympathy / new pet parent gift baskets. Cheryl's gift basket price starts from $28.99 to $130. Gift baskets at Mutts & Mousers costs $50 - $200. But in Amazon customers can buy a pet gift baskets starting at $30 and above.
Goody Bags
Shoppers can buy goody bags from $15 to $65 price range. But our individual goody items can be purchased from $1.50 to $10.99. Our competitor Chewy also has a great collection of goody bags too. Their goody bags’ price range is $12.98 to $150. Cherly and Mutts & Mousers do not have goody items for the pets. Amazon’s pet goody items price range is $2 to $200. For goody bags, PetLovers used the combination of competitive and value-based pricing strategy.
Clothing and collars
PetLover customers can buy high-quality PJs and collars for their pets. The price range for PJs is $15 to $80. The price range for collars is $9.99 to $45. Our competitors Chewy and Cheryl do not sell PJs and collars. But Amazon has various types of PJs and collars. PetLovers considers Amazon as the market leader for these products. PetLovers followed the cost-plus pricing strategy for our products.
Pet Carrier, Seatbelt, And Vitamins
PetLovers followed the economy strategy for Pet carrier, seatbelt and Vitamins. Our strongest competitor Chewy and Amazon have those products from $15 to $250 price range in U.S. market. Our product will cost $ 8.99 to $100. Since we will expand our business to Asia and Europe, we will focus on the lower and middle income people for this product line.