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Asia's booming pet economy

Bark Bank, Singapore's first canine blood registry, streamlines blood donations for dogs

When Singapore residents Genevieve and Hsien Jin struggled to find a blood donor for their dog Bruno during an emergency, they saw an opportunity. On International Dog Day in August 2024, they launched Bark Bank, Singapore's first digital canine blood registry. Bark Bank addresses the fragmented process of sourcing canine blood by centralizing donor registration and screenings. After owners register their dogs, veterinary clinics manage the donation process. The platform collaborates with vets, animal welfare groups, and dog owners to ensure best practices.

The initiative aligns with Asia's booming pet economy, driven by more individuals remaining single, couples opting out of parenthood, and family sizes continuing to shrink. Brands are capitalizing on the trend, but Bark Bank highlights an opportunity beyond just selling more products. As pets become integral members of households and society (including taking on active civic roles like the Seoul Dog Patrol Program), ownership challenges and animal welfare are gaining prominence. Innovating to solve these issues offers brands a purposeful way to participate in the pet economy. How could you leverage the rising influence of pets to deliver meaningful offerings that enhance the lives of furry companions?