Pets at Home today says it is winning new customers and keeping existing ones as its market continues to expand. Omnichannel sales continue to grow (+13.5%) and represented almost 17% of group revenue in the first quarter of its financial year.
The pet care and vet group says that after a year in which it gained 1.1m new customers, sign ups for regular services have continued to be strong. An average of 25,000 customers a week signed up to its Puppy and Kitten club during the first quarter – three times the pre-pandemic rate. This, says Pets at Home, represents a growth opportunity over the 12 to 15 years of the full pet lifetime.
Its subscription plan numbers grew by 16% to more than 1.5m, and generating more than £135m in recurring customer revenue each year – equivalent to about 8% of group customer revenue. At the same time, active members of its VIP loyalty scheme rose by 10.7% year-on-year to 7.4m. Pets at Home says that 27% of all VIP members bought across more than one channel during the quarter – 14% up on last year – thanks to “our strategic focus on deepening customer relationships”.
The retailer reported total group revenue of £404.7m in the first quarter of its 2023 financial year – up by 7.1% on the same time last year. Omnichannel revenue accounted for 16.7% of group sales – up from 15.8% in the previous full-year.
During the period, the 16 weeks to July 21 2022, group revenue grew by 6% on a like-for-like (LFL) basis that strips out the effect of store – and business – openings and closures. That includes 5.6% growth in retail sales and 8.6% growth in vet sales. Group LFL revenue was 37.9% higher than the same period two years ago.
Lyssa McGowan, Pets at Home group chief executive, says: “Our performance has remained strong in the first quarter, underpinned by continued customer growth and high levels of attention. We operate a unique omnichannel model, in a market in structural growth, where the passion and expertise of our colleagues and partners is a key competitive advantage.”
Pets at Home is ranked Top150 in RXUK Top500 research.
