Walmart pet insurance launched as pandemic animal adoptions spike

Walmart Pet Insurance - Puppy with person
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The retailer is offering coverage through Petplan and is also offering the Rover feature for services.

Beyond buying kibble and leashes at the retailer, customers can now purchase Walmart pet insurance to help cover veterinary costs in the case of unexpected illness or injury.

The retailer spotted the appeal of the coverage as the pandemic has caused animal adoptions to skyrocket.

The Walmart pet insurance is launched at the same time that the Rover service has become available to connect customers with services such as dog walkers and sitters. The retailer’s Pet Care has a new landing page on the company’s official website. This is meant to provide consumers with a spectrum of different products and services suited to animal needs.

Walmart Pets vice president Melody Richard declined to disclose the Petplan and Rover deal details for a recent CNBC report. Richard explained that customers would receive unique perks and discounts by using the service. For instance, she said that they would enjoy savings as high as 10 percent off their insurance policies by enrolling through the retailer. Moreover, if they book their dog walking or pet sitting through Rover, they will earn gift cards to shop at the retailer.

The pandemic caused animal adoptions to rise, making Walmart pet insurance a considerable opportunity.

The retailer saw the opportunity that opened by the substantial spike in adoptions of animals such as dogs and cats across the United States.

“We’re focused on bringing our customers and the beloved pets in their lives trusted, convenient and affordable programs at one destination,” said Richard. “And we’ll continue to focus on that.”

The retailer has already enjoyed a considerable spike in the sale of animal supplies such as food and basics, in addition to chew toys and seasonal costumes. It has become a popular gift giving category for the already-started holiday shopping season.

This market was already a growing one in the United States. However, the pandemic sent it into high gear. The US pet care industry is expected to rise from a market worth $53 billion to around $64 billion within a span of only four years, Walmart Pet Insurance - Puppy with personaccording to Jeffries research data. This makes for a natural time for Walmart pet insurance and services to establish themselves.

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