CX Daily: China’s Pet Boom Bites Back
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In Depth: China’s pet boom bites back
China’s pet economy looks like a sure bet — a booming multibillion-dollar market fueled by young urbanites seeking furry companions in a fast-paced world. This emotional bond, coupled with rising demand for domestic brands and the power of e-commerce, has created a frenzy of growth.
But the industry is also facing biting headwinds: fierce price wars are cutting into profits and forcing closures, especially of veterinary clinics, while concerns mount over a shadow industry of unethical breeders and a chill in funding.
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