As the coronavirus pandemic continues, the gap between businesses suffering and those succeeding in the retail industry grows wider.
Consumers have altered what they spend their money on, as categories like home and pet have seen big gains since the spring. But consumers have also changed where they spend their money with e-commerce growing more popular as shoppers remain wary of physical stores. Combined, Bark — which offers subscription boxes shipped to consumers’ doorsteps — may be an increasingly attractive option among pet owners.
The pet brand, founded in 2012, has grown to reach more than a million active subscribers every month and is available in major retail chains like Amazon, Target and Costco, according to the company. Bark is expected to generate some $365 million in revenues this year and reach a gross profit of $221 million.Retail Dive