Petz digital business jumped 62.6% in 2022

Petz Group revenues increased 36.2% to R$3.36 billion ($650M/€610M) in 2022. Digital revenue hit R$1.2 billion ($232M/€219M), accounting for 36.2% of the total.

In the release of its latest results, the company said pet parents spent between 55% and 60% more in omnichannel than in the physical store. It said it would “intensify” efforts on the channel in 2023 because of this trend.

In the fourth quarter of the year, the pet retailer posted revenue of R$934.8 million ($181M/€171M), a year-on-year growth of 34.6%. 

The retailer opened a “record” 50 new stores in 2022, taking its total tally to 218 outlets across 23 states. In the last quarter of the year, it opened 18 new shops and entered 3 new states, namely Pará, Rondônia, and Maranhão. 

Optimism for 2023

In the first 2 months of 2023, Petz’s standalone revenues grew by 20%, and digital sales jumped by 40%. The retailer also sees the “first signs of improvement” in the discretionary items category.

The company has expansion plans for 2023, including a new loyalty program and investing in technology to boost its digital presence. It aims to open a further 30 to 40 stores across the country. 

Other plans include introducing pet insurance in the first half of the year and developing its private label business.