开业仅9个月，盒马创始人的新品牌全线关闭

Core Viewpoint - The closure of all "Pet Fresh" stores by Hou Yi, the founder of Hema, indicates challenges in the pet fresh food market, which is deemed not a good market due to its small scale and unresolved issues [1][6]. Company Overview - "Pet Fresh" was Hou Yi's second entrepreneurial project after leaving Hema, initially aiming to open 100 stores in Shanghai and successfully raising $25 million in angel funding, setting a record in the pet industry [2][6]. Market Analysis - The global pet fresh food market is projected to exceed $4.5 billion by 2025, with a compound annual growth rate (CAGR) of 21.3%, significantly outpacing the traditional dry food market's growth of 5.2% [8]. - However, the penetration rate of fresh food feeding in China is below 5%, compared to 36% in the U.S., indicating potential growth opportunities despite current market challenges [8]. Consumer Behavior - Consumers typically mix pet food types, with dry food being the primary choice, and fresh food purchases often influenced by marketing rather than nutritional needs [8][9]. - The cost of fresh food is significantly higher, with monthly expenses for dry food around 150 RMB, freeze-dried food at 300 RMB, and fresh food ranging from 500 to 600 RMB [8]. Future Outlook - Hou Yi plans to continue his entrepreneurial journey, focusing on the retail and fresh food sectors, emphasizing a strong product brand and system [10].