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Niaoyuhuaxiang, a B-end service provider in the pet supplies field, recently completed a 20 million yuan Pre-A round of financing. It is understood that Niaoyuhuaxiang will use this round of funds for new product research and development and supply chain improvement.
Niaoyuhuaxiang Company was established in 2019, and its core business currently consists of two parts. On the one hand, the team integrates the supply chain, designs, and produces all kinds of pet products that meet consumer needs and provides them to retailers and e-commerce platforms for sale. Its products cover daily pet necessities, toys, clean personal care, smart home products, pet treats, etc.; on the other hand, brand positioning, pet product design, and production in the middle stage output strategic product solutions for the B-end brand.
In recent years, the number of pet owners in urban areas in China has increased, and the market for pet products and services has continued to grow. The pet market in 2019 exceeded 200 billion yuan, an increase of 18.5% year-on-year. There are more and more pet users who treat pets as family members. With the trend of consumption upgrading, consumers put forward new requirements for the three-dimensional scene and iteration speed of pet supplies.
Niaoyuhuaxiang has a team of about 30 designers. Most of them have backgrounds in world-renowned schools and famous companies. They have rich practical experience in product design and function definition and product development based on pet behavior and psychology. In addition to meeting the basic needs of consumers and pets, the team innovated the appearance, structure, and function of products from safety, emotion, aesthetics, and socialization.
According to Sunny, the co-founder of Niaoyuhuaxiang, pushing new efficiency is also one of its advantages. It takes about 45-60 days period for the team to launch ordinary pet products, such as cat bowls. While the industry average is about 3-4 months, the period for the team to launch smart pet products is about 4-6 months, and the average industry smart product development cycle is about 8-10 months. Besides, Niaoyuhuaxiang also owns two factories, and currently, 80% of its products are produced in its factories.
Niaoyuhuaxiang has designed and produced more than 500 pet products SKUs, including smart products such as intelligent pet feeders, intelligent pet drinking fountains, etc. Cleaning and beauty products such as multifunctional pet comb sets, daily necessities such as grain storage buckets, etc., toy series such as eggshell cat toys, cat scratching boards, etc.
Talking about the key to creating popular products, Sunny said that the team would estimate the category sales based on network-wide data in the early stage of product development. Judge the value of the category based on the pit production and sales rate of the sub-category head pits, combine user research and feedback, Or iterate on existing products on the market, or define new products in new categories.
Due to the constraints of personnel, product strategy, and other factors, some pet product brands may face efficiency problems in new product design and category expansion. Using its advantages, Niaoyuhuaxiang provides complete product solutions, industrial strategy consulting, brand strategy consulting, and other services for B-end brands, hoping to become an integrated full-case service provider that opens up upstream and downstream links. Currently, consulting service business income accounts for 40% of the company's overall business income.
In the next step, Niaoyuhuaxiang plans to explore new categories horizontally, deepen existing categories vertically, and iterate existing products. Also, the team will continue to improve the distribution agency system, expand K.A. channels, and build a refined user operation team. Just to deeply explore the needs of pets and pet owners, push new efficiency for internal products, and empower B-end industry partners.