Walmart shoppers knew they could always hit the retailer’s grocery aisles for family pet necessities like dog food or kitty litter.
Pretty soon, they’re likely to hit Walmart for expanded pet care services like veterinary care and pet grooming in a single location.
Walmart announced this week the rollout of its first-ever Walmart Pet Services, located in Dallas, Ga., just outside of Atlanta.
Billed by the retail giant as a dedicated storefront to cater to customer pet care needs, the new pet service center will offer “routine veterinary care (vaccines, wellness exams, and minor medical services), grooming (baths, nail trims, teeth cleaning, ear cleaning and basic hair trims) and a self-serve dog wash,” the company said in a statement.
Shoppers can also drop off their dog or cat at the pen center for grooming or a vet appointment and head next door to shop at a traditional Walmart.
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The company is partnering with Eagle, Idaho-based PetIQ, a pet care services company to provide “qualified veterinary and grooming professionals . . . so customers can rest assured their furry friends will receive high-quality care provided by trusted professionals.”
The move represents another big step by the retailer to grab a bigger share of the estimated $143 billion pet care market in 2023, a number that should rise to $277 billion by 2030.
That figure translates into an 8% compound annual growth rate with the average household spend on pet goods and services at $1,320 per U.S. household by 2025 and to $1,897 by 2023, according to Morgan Stanley.
“An outcome in line with this expectation would increase total spending in the industry by 134% over the next decade, from $118 billion in 2019 to $277 billion by 2030,” says Morgan Stanley retail analyst Simeon Gutman in a recent research report.
Walmart already offers in-store vet clinics in 65 U.S. store locations and customers have long filled pet prescriptions at Walmart pharmacies. The Georgia location indicates an expansion of the company’s retail pet goods and services strategy.
Pairing up with its walk-in pet store rollout, Walmart is also offering deals at Walmart+, including “24/7 virtual access to licensed veterinary professionals via text and video through a free one-year Pawp membership and save $30 off services by Rover, including dog walking, sitting and boarding,” the company stated.
The company is also offering a no-fee subscription service to pet owners who seem to be an ideal consumer demographic for Walmart.
“Based on our pilot testing, the pet category has been where customers have most eagerly embraced this convenience. Now, customers can easily subscribe to their pets' favorite food or treats,” Walmart noted.
While the Georgia dedicated pet store is considered a pilot project, Walmart has already indicated its interest in opening more pet health and services locations, company officials said.
Walmart is trading at $164 per share on Sept. 20, and the stock is up 15.79% on a year-to-date basis.
