宠物月度数据及行业近况更新

Summary of Pet Industry Conference Call Industry Overview - The pet industry overall maintained growth in September 2025, but brand performance varied significantly [1][4] - The concentration of the pet industry has experienced a decline followed by an increase, with leading brands rapidly expanding and the mid-to-high-end market share increasing [1][7] - The industry is expected to see a rapid increase in concentration over the next two to three years, with CR10 approaching 50% [1][7] Brand Performance - Mafudi: Achieved a year-on-year growth of 4%, primarily due to the separate accounting of some series under its brand [3] - Fleegat: Recorded an impressive online growth rate of 85%, being the only brand among the top 20 to exceed 50% growth [3] - Wangpi: Experienced a 30% online growth [3] - Leading Brands: Overall growth of 46% [3] - Peidi Testing: Achieved a 12% online growth [3] E-commerce Performance - In September 2025, the overall year-on-year growth rate for online e-commerce platforms in the pet industry was 3.1% [2] - Tmall: Experienced a decline of 10% [2] - JD.com: Saw a growth of 24% [2] - Douyin: Achieved an 18% growth [2] Double Eleven Sales Performance - The top three brands in the pre-sale rankings for Double Eleven were Xianlang, Lanshi, and Fleegat [5] - In terms of sales, Xianlang ranked first, followed by Lanshi and Fleegat [5] - For cat food, Xianlang was first, with Fleegat second; for dog food, Mafudi ranked second [5] - In the cat snack category, Wangpi was second, while the top five for dog snacks included Mafudi, ZOZO ZOZO, Jueyan, and Wangpi [5] Discount Trends and Competition - The competition among e-commerce platforms during Double Eleven was intense, with significant discounts reaching as low as 66.5% or 60% [6] - This discount trend was primarily driven by channel and platform subsidies rather than brand discounts alone [6] Future Growth Expectations - The domestic sales performance in Q3 was strong, with leading brands meeting targets [4][8] - The Double Eleven promotional activities are expected to drive GMV, maintaining high growth for overall revenue in 2025 [4][8] - The pet industry is in a rapid growth phase, with high growth rates across various product segments and categories [8] - The trend of mergers and acquisitions to enter the food sector is becoming prominent, exemplified by the acquisition of Gaoye Jia by Yiyiyuan [7] - The speed of new product iterations is increasing, requiring higher supply chain advantages and R&D capabilities [7]