Packaged Facts released a new report, Pet Product Retail Channel and Consumer Shopping Trends, which says pet product retailers and marketers should re-evaluate strategic options to keep up with the increasingly competitive pet product marketplace.
The report suggests options for remaining competitive in the market, including: competing on price; incorporating premium or natural products into offerings; improving merchandising, marketing and promotions; promoting pet treats; and becoming "destination information" sources. According to the report, three long-term factors have greatly increased competition: the expansion of big-box pet specialty chains; the growth of mass merchandisers and supercenters; and the rise of the Internet. In the short term, budget constraints have changed the way consumers buy and what they buy, proving they are willing to switch channels and brands to make ends meet or satisfy shifting priorities.
The full report may be purchased online from Packaged Facts.
Pet owners want a lot from their pet food brands. They want primary proteins that suit what they believe is best for their animal. They want grains or they don't. They want something customized, but it has to be easy to understand.
Constraints and crises, like those experienced in 2020, help drive innovation and sustainability offers context.