1ST Group grabs first mover advantage in niche pet care market
In keeping with management’s growth strategy, media and technology enterprise, 1ST Group (ASX: 1ST) announced on Monday morning that it had launched a new pet portal, www.PetYeti.com.au, which will with major veterinary groups such as Greencross and National Vetcare already on board, providing services that will assist in attracting customers seeking pet services to their businesses, will also provide a great opportunity for smaller vet practices to compete with them.
1ST has the opportunity to tap into a large industry as it begins marketing to 9000 veterinarians across Australia. Managing Director, Klaus Bartosch highlighted the fact that the PetYeti platform was already taking over 5000 online appointments a month.
Potential investors should note that this company is in its early stages and projections regarding future business performance are only estimates and should not use this data alone as the basis for an investment decision. Independent financial advice should be sought if considering this stock.
The company has first mover advantage as Australia’s first online appointment booking platform that enables pet owners to find a local veterinarian and book online appointments 24/7 on any Internet connected device.
In line with strategy and in parallel with industries currently serviced
From a strategic perspective, this development should be well viewed by investors as it fits with the initiatives previously outlined by management, as indicated in the following graphic, which will assist in generating growth outside its established areas of operation.
PetYeti adds to existing portals such as 1stAvailable and GObookings which cover a range of industries including doctors, optometrists and dentists.
Bartosch fleshed out the mutual benefits offered by the portal in saying, “Pet owners will be able to access PetYeti’s comprehensive directory listing to find their local vet, and importantly, book immediately online with those practices that have upgraded to our online appointment booking solution”.
He also highlighted the fact that consumers will be able to book through the Australian Veterinary Associations ‘Find a vet’ service which is powered by PetYeti. According to Bartosch, more than 55% of appointments on the portal are booked out of business hours, demonstrating the convenience of the platform to pet owners and practices.
The claims of future performance with this product are not and should not be taken as an indication of current or past performance. Caution should be exercised in assessing future claims of performance, as these are based on assumptions. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.
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