这个国庆中秋长假，很多人都踏上了回家的旅途，而留守在家的猫猫狗狗们怎么安心度过八天的假日，成了不少宠物家长们 头疼的事。提前给毛孩子准备好餐食，再选择上门喂养或是寄养，有的家长甚至送毛孩子们住起了宠物酒店，或者直接送去 宠物学校"上几天学"。 宠物已经被当作家人同等珍视，当养宠成为一种生活方式，日渐丰富的宠物消费形式也逐渐构建起了一片宠物经济的蓝海。 上门宠托师供不应求 非平台渠道乱象频现 "优米胆子太小了，宠物店猫狗又太多，一旦应激生了病就更麻烦，所以和去年一样，我从猫巷（微信小程序）上找了上门喂 养师。"在济南上班的牧牧有一只五岁的美短猫，每年国庆和春节都要回河北老家的她，如何安顿好毛孩子，成了节前要考虑 的"头等大事"。 "三年宠托师经验，历史服务180+次，近90天100%订单确认率。"在牧牧的介绍下，记者通过微信查看猫巷小程序，浏览宠托 师的相关信息后发现，济南本地目前认证可上门的宠托师只有十几人。"在平台上找上门喂养的宠托师更有保障，但目前平台 上注册宠托师太少，所以有时我也会在小红书App发帖寻找宠托师，价格比平台便宜些，每次40元左右，但是不如从平台找放 心。" 然而，宠物消费市场的一片蓝海下 ...

Core Viewpoint - Wag, a pet walking service platform, has filed for bankruptcy after reaching a peak valuation of $650 million in 2022, highlighting the challenges faced by companies in the pet service industry and the structural issues within its business model [2][3][14]. Company Overview - Wag was founded in 2015 in San Francisco and was one of the first companies to platform pet walking services, leveraging a shared economy model to connect pet owners with dog walkers [6][7]. - The company expanded its services from dog walking to include pet sitting, health care, and online education, aiming to meet the needs of modern pet owners [6][7]. Financial Performance - In Q1 2023, Wag reported total revenue of $15.2 million, a 34.5% decrease from $23.2 million in the same period of 2024, with a net loss of $4.9 million, up 16.7% from a $4.2 million loss the previous year [8][9]. - The company projected annual revenue of $84 million to $88 million for 2025, indicating a potential growth of 15% to 20% compared to 2024 [8]. Bankruptcy and Restructuring - Wag is undergoing Chapter 11 bankruptcy proceedings to restructure its debts, which include a projected loss of $69.5 million from 2022 to 2024 [3][10]. - The company faced a liquidity crisis after failing to meet cash requirements set by a loan agreement, leading to the decision to file for bankruptcy [3][10]. Market Challenges - The pet service industry is experiencing structural changes post-pandemic, with a decline in demand for non-essential services like dog walking, while essential services such as pet food and healthcare are on the rise [10][14]. - Wag's aggressive expansion into new markets, such as pet insurance and e-commerce, has led to resource misallocation and management challenges [10][14]. Competitive Landscape - Rover Group, a competitor, has successfully captured market share by focusing on long-term care services, achieving significant revenue growth and profitability [13][14]. - Wag's reliance on a commission-based model has proven vulnerable to high customer acquisition costs and low user retention rates, making it difficult to establish a sustainable profit model [9][14]. Industry Outlook - The pet industry in China is projected to grow significantly, with the market size expected to reach 361.3 billion RMB by 2026, indicating strong investment interest in the sector [16][17]. - The rise of pet ownership and changing consumer behaviors are creating new opportunities in various pet-related services, including training, grooming, and health management [17][18].

Overview - The pet industry has a long history in developed countries, while the domestic pet industry in China is relatively new but is rapidly growing due to rising consumer spending, changing attitudes, and demographic shifts such as aging population and single-child families [1][9] - The pet boarding sector, as a significant part of the pet industry, is experiencing a golden period of rapid development, with the market size expected to reach 2.81 billion yuan in 2024, representing a year-on-year growth of 24.91%, with over 80% of the market share attributed to dog and cat boarding [1][9] Development History - Pet boarding services began to gain attention in the 1990s as economic development and living standards improved, initially characterized by simple, home-based services [3] - In the 21st century, the focus shifted to service quality and user experience, expanding from basic care to include grooming, health care, and behavioral training, leading to the emergence of specialized boarding institutions [3] Industry Chain - The upstream of the pet boarding industry includes pet food, supplies, pharmaceuticals, and medical services [5] - The midstream consists of pet boarding service providers responsible for daily care, which may also offer medical care, grooming, and training services [5] - The downstream includes pet owners, whose demands directly influence industry development [5] Current Development - The number of pets in China is increasing, with pet cats expected to reach 71.53 million and pet dogs 52.58 million by 2024, contributing to the growth of the pet boarding industry [7][9] Competitive Landscape - The demand for pet boarding services is increasing, especially during holidays, attracting significant capital into the market, leading to intensified competition [11] - The market is primarily dominated by pet stores and veterinary hospitals, which account for over 60% of the market share [11] Key Companies - Beijing Petdog Technology Development Co., Ltd. has established a significant presence with 1,500 pet chain stores and a comprehensive pet education and training base [14] - Shenyang Qianxun Pet Medical Co., Ltd. focuses on animal rescue and offers a range of services including pet boarding, with all profits directed towards animal welfare initiatives [16] Future Trends - The pet boarding industry is expected to implement stricter standards and regulations to enhance service quality and ensure pet health and safety [18] - There will be a growing emphasis on personalized services based on individual pet characteristics, including tailored dietary plans and specialized activities [18]

Core Insights - The article emphasizes that economic cycles do not eliminate demand but reshape its form, leading to the emergence of industries that thrive during downturns [3][4][26]. Group 1: Economic Trends - During economic downturns, certain industries experience unexpected growth, indicating a shift in consumer behavior towards more cost-effective options [5][10]. - The concept of "value-for-money economy" emerges as consumers prioritize savings, leading to a rational flow of consumption rather than a complete decline in demand [7][8]. Group 2: Consumer Behavior - The rise of the "middleman profit" model, particularly on platforms like Xianyu, showcases how young individuals capitalize on price differences between low-cost goods and resale opportunities, with some earning over 10,000 yuan monthly [9][10]. - The second-hand economy is booming, driven by a strong desire for cost-effective purchases among younger consumers, as they increasingly opt for second-hand items over new ones [12][13]. Group 3: Emotional and Anxiety Economies - The "emotional economy" is highlighted through the growing pet care industry, where services like pet boarding and grooming are in high demand, reflecting consumers' emotional investments in their pets [16][17]. - The "anxiety economy" is characterized by a surge in self-investment as individuals seek to enhance their skills amid job insecurity, leading to increased enrollment in practical training courses and the rise of flexible employment [22][23]. Group 4: Market Dynamics - The article concludes that the current economic landscape in China is undergoing a process of creative destruction, where industries that adapt to changing consumer needs and behaviors will thrive [26].

Core Insights - The demand for pet boarding services has surged during the "May Day" holiday, with many pet owners seeking professional care for their pets while traveling [1][2] - Pet boarding facilities are experiencing high occupancy rates, with some customers booking rooms up to three months in advance [2] - Safety and personalized services are top priorities for pet owners, leading to the introduction of various tailored offerings by pet boarding institutions [2][4] Industry Trends - The pet boarding service market is witnessing a significant increase in demand, particularly during holiday periods [2] - Facilities are adopting modern amenities such as surveillance cameras and detailed pet profiles to ensure safety and comfort [2] - There is a growing trend towards personalized services, including specialized meals and outdoor activities for pets, reflecting the increasing focus on pet welfare [4] Market Data - According to the "2025 China Pet Industry White Paper," the number of urban pets (dogs and cats) in China exceeded 120 million last year, with the market size surpassing 300 billion yuan [4]