The new brand’s name comes from Amazon’s acquisition of Quidsi and its e-commerce properties in 2011 for US$545 million, all of which were shut down last spring. Wag.com was one of those properties.
A report from market research firm Packaged Facts, says Amazon sees pet products as a “top category of interest,” declaring it as such several years ago. That interest is not expected to die down anytime soon: In another report, the firm estimates that Amazon’s pet product sales hit $2 billion in 2016, a 40% year-over-year rise. Wag will only drive that number higher.
“Pet products are among the fastest-growing online retail categories and Amazon is leading the way,” says David Sprinkle, research director for Packaged Facts. “The scariest part for competitors is that recent news indicates the e-commerce juggernaut is still coming on strong and unabated in the U.S. pet industry, reaffirming its commitment to pet products and now pet food.”
Despite PetSmart’s 2017 acquisition of Chewy.com, which the report says gave the retailer an “admirable jump,” Amazon topped the list of leading websites for pet-product purchases, Packaged Facts Q1 2018 National Pet Owner Survey revealed. The Seattle-based company attracted 55% of those who purchased pet products via e-commerce, followed by Chewy at 26%, PetSmart at 19%, Petco at 17%, and Walmart/Sam’s Club at 14%.