By creating an interconnected network of channels, platforms, services and products, retailers are not only better equipped to respond seamlessly to today’s hybrid shoppers, but they future-proof their businesses by considering how the transformation Ongoing digital technology will continue to have an impact not only where consumers and retailers interact, but create new needs and areas of opportunity to be filled through evolved models and processes. These new, next-generation omnichannel retail business models expand consumer touchpoints while driving greater value through end-to-end services and omniverse channel offerings.
In order to grow its own ecosystem and further differentiate itself from competitors in the space, Petco is developing a suite of best-in-class value-added services and strategically partnering with other companies to tap into adjacent retail sectors. . The pet retailer recently partnered with Lowe’s for shop-in-shop offers at certain locations. By considering the entire consumer lifestyle, rather than a single purchase, Petco is able to expand complementary services and provide a multi-pronged brand experience. Thanks to the Lowe’s partnership, DIY Pet Parents can actively consider and purchase their pet’s health and wellness needs while working on their own home improvement projects. Stores within stores will be staffed with Petco’s own employees to better offer pet-focused advice alongside advice from Lowe’s associates on home improvement projects.
Additionally, the pet-focused retailer has launched a test-and-learn store concept format, where shoppers can easily register for veterinary services and grooming via Petco’s Vital Care offer, an annual plan that has attracted more than 130,000 members to date and includes routine veterinary checkups and discounted grooming sessions. The concept store also offers exclusive experiences, such as in-store VIP events for Pals Rewards and Vital Care members. There is also a robust nutrition center with JustFoodForDogs fresh and frozen foods, as well as on-site nutrition experts, reinforcing Petco’s commitment to caring for the overall health of pets. Petco also adds CLIF PET™ and Earth Animal® product assortments on its shelves as part of its mission to bring new, sustainable and innovative offerings to Petco pet parents.
Beyond the store, Petco is also expanding its partnership with Vagabond, an online marketplace for animal care. Petco customers will now be able to access pet boarding, boarding, dog walking and daycare services provided by Rover through the Petco website. By expanding their offerings and building partnerships, retail brands can meet a wider range of consumer needs and drive deeper engagement. The key is to understand where the brand is allowed to show up and where it can most effectively expand.
This article originally appeared in the PSFK iQ report, Retail transformation through innovation.