Remember the 2020 quarantine? I definitely do. Although it was quite boring and dreary, at least I had the companionship of my lovely Chihuahua during the tough times. Alas, I wasn’t alone in my sentiment.
Pet Adoption Boom
Those without pets before the quarantine had quickly sought to combat their loneliness (and free time) with the addition of a new pet. Thus, during the summer months of 2020, there was a boom in pet adoptions and purchases. This in turn rocketed the sales of online pet retailers and superstores, such as Chewy and Petsmart.
Pet Valu During the Pet Boom
This pet boom, however, could not save smaller pet retail stores. According to Melissa Repko of CNBC, Pet Valu has become the latest victim of the retail downfall, as brick-and-mortar stores across the United States of America are suspending operations. Covid-19 was the straw that broke the camel’s back.
According to Janie Gould, Pet Valu's CRO, Pet Valu will be shutting down all 358 stores and warehouses in America and winding down operations at its Pennsylvania headquarters. The shutdown of various retailers in the United States of America is a telling symptom of their inability to adapt to the changing times of this generation. And, if a company is unable to advance with the rest of society, then their only outcome is bankruptcy.
