SAN DIEGO — Petco Health and Wellness Company, Inc. has expanded its existing retail partnership with Canadian Tire to support the northern retailer’s efforts to widen its product assortment and offer a “renewed store concept.”
According to Petco, 90% of Canadians are estimated to live only 15 minutes from a Canadian Tire store, which will help Petco as it seeks to capitalize on the projected $5.3 billion Canadian pet market.
"Canadian Tire's legacy as an admired go-to retailer for living, playing, fixing, automotive and seasonal products has cemented them as a household name in Canadian homes,” said Amy College, chief merchandising officer at Petco. “Through our exclusive expanded partnership with Canadian Tire, we're growing awareness of — and access to — Petco's health and wellness products within Canada's dynamic and rapidly growing pet market.”
The partnership will allow Petco to offer an exclusive and significantly expanded product assortment at Canadian Tire stores, as well as online at canadiantire.ca. By mid-2023, Petco aims to establish store-in-a-store concepts at 90% of Canadian Tire locations — roughly 450 stores — across Canada.
“Four years after our teams brought this exciting and innovative concept to pet parents, the continued growth of our partnership speaks to pet parents' deep confidence in Petco's pet care expertise, as well as the power and reach of Canadian Tire's connection with local markets,” College added. “These shop-in-shops will continue to bring innovation to existing Canadian Tire pet parents and attract new customers for years to come."
The product assortment expansion will include Petco’s private label WholeHearted premium pet food and treat line, as well as its Reddy brand of lifestyle and fashion supplies. The store-in-a-store concepts will also feature an expanded assortment of Petco’s SoPhresh litter and accessories, as well as Well & Good first-aid products, health remedies and grooming items.
"With 60% of Canadian households home to a family cat or dog, pet is an important product category with strong potential for growth rooted in value, relevance and trusted brands for our customers," said Michael Magennis, senior vice president of general merchandising at Canadian Tire. "Since partnering with Petco in 2018, we have seen double-digit growth in the category with a marked increase in customers shopping the pet category for the first time."
Read more about pet retail trends.