(China-63) Loving CATS is a booming business in China!

catbusiness

SPECIAL NOTE: Why should anyone be surprised that the SHARING MODEL of business is spreading into every aspect of life and the society at large in China…China is all the way out to make money, tons of money, and anything and everything they find potential as a business will get their support, attention and money. I see this everywhere in China during my 7 years as a visiting professor in China…most young professionals are not happy doing their 8 to 5 jobs, they are willing to dabble with everything to find their niche in the money making world in China…and with increase use of the AI and the Internet…everyone is trying to make some money doing something that will fatten their bank accounts! So pets are a huge hit now in China…with more money to spend, with aging population and loneliness that some older adults are facing because they do not have children, or their one child had died, or many young adults had chosen not to return home to see their parents because they have not been successful in their different endeavors in life (they were poor to start with and are not going anywhere without the privilege of further training or education) …yes, pets are taking their place in the empty-nest homes across the vast China…so it should not surprise anyone that old people and young professionals (with time and money to spare) are adopting pets to add some excitement to their boring working lives…why not…enjoy life in any way that money can buy for you…I come from a culture that simply adores pets, some Americans eat, sleep, bath and travel with their pets, like regular children in the families…so have money will spend, enjoy life…this is your one chance to be happy, just do it!   “The increasing income, consumption upgrading, emotional need for company caused by the one-child policy in the past and the aging society are the drivers of the pet industry,” said Ye Qianyu, an analyst of Everbright Securities. “By 2020, the pet industry in China will grow to 220.3 billion yuan.” Passion, peace, power, Steve Xiamen, China, March 24, 2018

 

 

Love of cats is big business
By Ren Xiaojin | China Daily | Updated: 2018-03-20

Fast-growing sector includes breeding, medical care, hospitality, foods, toys and cafes
Many people love cats, especially when they’re on the internet. Millions of pictures and videos of cute kitties-playing the piano, causing problems around the house or getting scared by, say, a cucumber-are posted online around the world every day, and China is no exception.

For example, a cat named Soobin, meaning “crispy cookie” in English, is one of the most famous celebrity cats among Chinese netizens and has 4.19 million followers on Sina Weibo-the Chinese twitter. Any of its “posts” can easily gain thousands of replies.

It doesn’t take a genius to know there is money to be made in people’s affection for felines.

Apart from sitting on the laptop and drinking water from human cups, Soobin plays a much more important job in the video company he “serves”-Shanghai Canbox Media Co Ltd. He is the leading character of the company’s cooking show Cat’s Kitchen and the major intellectual property of it.

“We didn’t require Soobin to act in the filming, we just put him in front of the camera and let him be a cat,” said Jiang Xuan, director of Cat’s Kitchen and the owner of Soobin. “It adds characteristics to the show and has attracted many fans.”
The cooking show’s Weibo account now has 11.4 million followers, and more than a third of them are fans of Soobin.

“Now, due to fans and audience’s obsession with Soobin, the goods we developed are more or less related to Soobin,” Jiang said.

But the major revenue of Cat’s Kitchen comes from advertisements. It’s a considerable exposure for brands related to the culinary industry. The company’s client list includes Starbucks, Zojirushi and Meiji.
Soobin is just one of many celebrity cats. Last year the death of Loulou, another Weibo celebrity cat, triggered a wave of mourning among netizens.

Duanwu, a Weibo Scottish fold cat, together with its buddy, a Samoyed, have also made their owner rich. The owner charges more than 20,000 yuan ($3,168) for a 140-word Weibo ad, according to a Tencent Research Institute report.

It is just the tip of the iceberg of the mass obsession regarding cats and the cat-related economy, which also includes breeding, medical care, hospitality, foods, toys and cafes.
“The increasing income, consumption upgrading, emotional need for company caused by the one-child policy in the past and the aging society are the drivers of the pet industry,” said Ye Qianyu, an analyst of Everbright Securities. “By 2020, the pet industry in China will grow to 220.3 billion yuan.”

Compared to dogs, cats are comparatively less dependent on their owners, and are growingly popular among the city’s young workers.
“I got my cat Pangtiao for 8,000 yuan. It was a discounted price because my cat’s face is not in perfect symmetry,” said Xu Jinghao, who has a black and white Garfield cat. “I’ve had this cat for half a year now and spent thousands of yuan on it.”

The daily expenditure includes cat food, cat litter sand, clothes, toys and nutrition supplements.

“There are more people keeping cats as pets,” said Han Jing, owner of Meowland, a Shanghai-based pet shop. “And the price is growing every year. From my shop, about 60 kitties will find their new homes every month.”
She said the price of cats depends on the quality of the animal, and the most expensive cat can be sold for 100,000 yuan.

“Five to eight thousand yuan is the most popular price range,” she said.
According to VC SaaS, a service platform for venture capital, funding and investment, dogs are still the first choice among Chinese pet lovers, accounting for 57 percent of urban pets, while cats are the second, accounting for 21 percent. But in recent years, the cost of raising cats has surpassed dogs and reached 500 yuan a month, VC SaaS observed.

Not everyone can have the luxury of owning a cat. Chinese netizens have developed a new mechanism-”cloud petting”-which started as a joke when catless people began following daily updates about other people’s cats and interacted with their owners as if they had cats, too.

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