/PRZWT/HANGZHOU,Nov.6,2024-China's pet industry is booming and has become an important force driving the sustained growth of the national economy,and the size of the pet market continues to expand.In order to further promote the innovation drive of the pet industry and strengthen the in-depth communication and coordinated development of the upstream and downstream of the industry,the Pet Industry Branch of the China Animal Husbandry Association held the 3rd Pet Industry Conference in Hangzhou,Zhejiang from October 15-17,2024,and held the sixth council session of the association at the same time.The event brought together well-known experts and entrepreneurs to jointly discuss new trends,new opportunities and new challenges in the development of the pet industry,stimulate new momentum for high-quality development,and lead the industry development vane.Hu Wenqiang,rotating president of the joint stock company of Ruipai Pet Hospital Management,was invited to attend the conference and
Hu Wenqiang,the rotating president of the joint stock company of Ruipai Pet Hospital Management,pointed out that in the current economic environment,the pet industry is experiencing unprecedented challenges.With the increase of consumers'price sensitivity,low-price competition has become the norm in the industry.This phenomenon not only compresses the profit margins of enterprises,but also makes many traditional business models face an existential crisis.Many enterprises feel that the industry is becoming more and more volumetric,but President Hu Wenqiang believes that the essence of the internal volume is homogeneous competition on the one hand,and on the other hand is the market supply and demand relationship of oversupply.President Hu Wenqiang believes that there is no evolution without the internal volume.The final result of the internal volume will surely lead to the continuous improvement of customer rights and interests after the survival of the fittest,as well as the ultimate benefit of the industry.From this perspective,involution is a good thing.The operation of enterprises should believe in the Matthew effect.After the trend,only with innovative means and brand power that allows customers to trust can they continue to develop.
In order to seize market share,many companies have to sell at a low price at the expense of profits.This vicious cycle not only weakens service,product quality and level,but also limits the development potential of the entire industry.Therefore,major companies began to rethink their own development strategies.Relying solely on price advantages is not enough to cope with the increasingly complex market environment in the future.On the contrary,improving core competitiveness through technological innovation and management change will be a more feasible development path.
Under the pressure of high cost,how to maintain continuous innovation is a problem that every enterprise in the pet industry needs to seriously consider.President Hu Wenqiang believes that if enterprises innovate,they first need to understand what the resource endowment of the enterprise is,and secondly,they need to dig deeper into the underlying logic of the industry.For example,the pet medical service industry is its essential attribute,and technology is different from other services.On this basis,superimposed with the personal factors of practitioners,pet medical is a conscientious business and needs to constantly standardize the system.
First,start with internal management and reduce operating costs by optimizing resource allocation and process reengineering.For example,by introducing intelligence and digitalization,automated production and processes can be realized,which greatly improves work efficiency and saves labor costs.It is also crucial to strengthen team building and employee training,so that employees can better understand the company's vision and goals,so as to stimulate their enthusiasm to participate in innovation activities.Secondly,establishing good relationships with external partners is also an important way to promote innovation.For example,Ruipai cooperates with research institutes,universities and other relevant upstream and downstream industrial chains,which can effectively broaden technical horizons and introduce new ideas and technologies,thereby accelerating the Product Research&Development process.This cross-border collaboration not only reduces R&D risks,but also allows for the acquisition of more intellectual property rights,providing a guarantee for the company's future development.
In the face of increasingly severe market conditions,when exploring growth paths,it is necessary to increase the added value of products through unique functions or quality to meet consumers'demand for personalization and quality.For example,some brands have launched professional products for specific health issues to attract people who pay attention to health care.In addition to traditional sales channels,enhancing customer experience is also an important way to improve performance.For example,some companies have begun to provide value-added services such as online consulting,customized services and on-site services,so that customers feel more convenient and caring,so as to improve customer loyalty.Using digital technology to reshape business models is also an inevitable choice.From e-commerce platforms to social media marketing to supply chain management systems,a variety of digital tools can help companies grasp consumer needs more accurately and achieve rapid response.At the same time,mining user behavior through data analytics can provide a scientific basis for the next decision and improve marketing effectiveness.
Looking to the future,technological advancements will continue to drive profound changes in the pet industry.On the one hand,emerging technologies,such as artificial intelligence,big data analytics,etc.,will continue to be applied in multiple aspects such as Product Research&Development,Marketing Strategy,and Customer relationship management;on the other hand,diversified consumption trends will also prompt more market segments to emerge,such as for elderly dogs and cats,high-end care,etc.,which may become new growth points.In addition,pet insurance,wearable devices,and smart home systems are gradually entering the home,which will change the way people care for and accompany pets,bringing new opportunities to related industries.
In this new era full of challenges and opportunities,every enterprise committed to development must maintain a keen sense and constantly explore a development path that suits its own characteristics in order to cope with the increasingly complex and unpredictable market environment.Ruipai Pet Hospital will continue to take a long-term perspective on this dynamic and promising emerging industry,explore the infinite possibilities contained therein,and constantly try to open up its own blue ocean road.
