The retail giant said Petco shop-in-shops are now featured in over 80 per cent of Canadian Tire stores and are planned to grow to 90 per cent by this summer.
It said the investment enables it to further tap into Canada’s $5.3 billion pet market and expand its exclusive Petco product assortment through dedicated store space.
“We started this partnership with Petco in 2018 as we knew how important pets were to Canadian families. Now, nearly five years later, we have observed significant growth within the category, and with 60 per cent of Canadian households now home to a family cat or dog, we continue to see the pet category as one with tremendous growth potential. With this expansion, we’re excited to be able to offer even more Canadian pet parents access to a variety of premium pet products at great prices,” said Michael Magennis, Senior Vice President, General Merchandising at Canadian Tire Retail.
“The Canadian pet market landscape is an estimated $5.3 billion business. Petco shop-in-shops are now featured in over 80 per cent of Canadian Tire stores and are planned to grow to 90 per cent by this summer. CTC’s investment in the pet category is a core part of the renewed Canadian Tire store concept and broader product assortment being rolled out as part of the company’s Better Connected strategy.
“The pet industry demonstrated persistent growth throughout the pandemic with the Canadian dog population growing by 4.6 per cent to 7.6 million and the cat population increasing by 2.4 per cent to 8.4 million. According to market research, this growth is expected to continue with 64 per cent of Young Millennials indicating they plan to acquire a pet within the next five years. This data demonstrates that pets continue to be an integral part of the Canadian family and Canadian Tire’s brand purpose is We Are Here to Make Life in Canada Better for all our customers and their growing families.”
Petco was founded in 1965 and today it operates more than 1,500 pet care centres across the U.S., Mexico and Puerto Rico, which offer merchandise, companion animals, grooming, training and a growing network of on-site veterinary hospitals and mobile veterinary clinics.
“Canadian Tire’s legacy as one of the go-to retailers for living, playing, fixing, automotive and seasonal products has cemented them as a household name in Canadian homes. Through our exclusive expanded partnership with Canadian Tire, we’re growing awareness of, and access to, Petco’s health and wellness products within Canada’s dynamic and rapidly growing pet market,” said Petco Chief Merchandising Officer Amy College.
“Four years after our teams brought this exciting and innovative concept to pet parents, the continued growth of our partnership speaks to pet parents’ deep confidence in Petco’s pet care expertise, as well as the power and reach of Canadian Tire’s connection with the local market. These shop-in-shops will continue to bring innovation to existing Canadian Tire pet parents and attract new customers for years to come.”
Canadian Tire said the expansion will give more Canadians access to a broadened and exclusive offering of Petco’s premium pet products – including Petco’s fast-growing WholeHearted line of premium pet food and treats, and its popular lifestyle and fashion brand for pets, Reddy.
“The shop-in-shop experience will also feature a variety of additional Petco brands, including SoPhresh pet litters and litter accessories, and Well & Good, a pet care line with a wide range of expert-formulated, high-quality first-aid solutions, remedies and grooming products and tools.
CTC’s investment in the pet category is a core part of the renewed Canadian Tire store concept and broader product assortment being rolled out as part of the company’s Better Connected strategy,” said the retailer.
Canadian Tire Corporation’s retail business is led by Canadian Tire, which was founded in 1922. The retail segment also includes Mark’s, Pro Hockey Life, SportChek, Hockey Experts, Sports Experts and Atmosphere. CTC also owns and operates Helly Hansen.