OPCO Eyes Mounting International Market Share as Key Bottom-Line Driver
OurPet’s Company (OTCQX: OPCO) already dominates the cat wall at many retail locations, with superb offerings like its OurPets® Catty Whack®, featuring patented Electronic RealMouse® sound and an erratically moving feather wand, which darts in and out of holes in around the perimeter of this carpet scratching area-topped marvel. With an impressive and growing retail presence that spans majors like Petco and PetSmart, as well as numerous smaller retailers like Pet Supermarket, in addition to ecommerce giant Amazon (NASDAQ: AMZN) – further expansion into international markets could give this focused product design innovator real momentum. The same capacity to captivate western markets which OPCO has demonstrated already, with high-quality feeders and waste disposal systems, as well as toys that exercise an animal’s instincts and stimulate its senses, should easily help the company’s portfolio leap over cultural and language barriers in Asia. The warm reception OurPet’s Company has already received in Japan and South Korea is solid evidence of this.
Pet ownership is not only on the rise here in the states, but around the world as well. Globally, some 57 percent or more of the world’s consumers own pets, according to a recent GfK study (http://dtn.fm/0cKxR
), with dogs the most popular choice at around 33 percent, and cats coming in second at around 23 percent. One place this rise is particularly evident is among the growing middle class in China, and across the rest of Asia as well. Beijing-based consultant firm Zhongjinqixin did a sweeping survey late last year which showed that there are over 100 million registered pets now in China (http://dtn.fm/gc4PE
), with 62 percent of those pets being dogs, and a whopping 10 percent of the total number of all pets consolidated in Guangdong Province.
For a relatively small operator like OurPet’s Company – which has rapidly carved out a name for itself as a provider of ingeniously designed, high-quality toys, feeders and waste management solutions through its pet parent/prosumer brand OurPets®, as well as its mass market brand Pet Zone® – this international market could be a big opportunity. With 160 patents issued or pending and some three-quarters of its revenues stemming directly from the sale of proprietary products, OPCO is a success story waiting to pop on the global stage, and the international market could be one of the accelerants that gets this party really started. Bidding wars at home in the sector and a thriving consumer culture abroad that is leaning more and more toward increased pet ownership is a powerful one-two knockout punch for a little fighter like OPCO – which has the design talent and proven ability to resonate with end markets needed to take things to the next level abroad. With 62 percent of pets in China being dogs, the strong foundation in toys and feeders for dogs that OPCO has established will serve the company well as it reaches out further to this market in particular.
For more information, visit the company’s website at www.ourpets.com