Episode 64: Trending: Pet Food Podcast with Kathy Risch
Introduction
- Host: Lindsay Beaton, editor of Petfood Industry magazine
- Guest: Kathy Risch, Senior Vice President, Shopper Insights & Thought Leadership, Acosta Group
- Sponsor: Cargill, promoting TruMune postbiotic
- Episode Availability: Trending: Pet Food, SoundCloud, and other podcast platforms
- Original Air Date: June 26, 2024
Guest Introduction
Kathy Risch’s Background:
- Over 25 years in consumer goods insights
- Leadership roles at P&G, Neutrogena, Paramount Pictures, Anheuser-Busch InBev
- Oversees 30-40 research studies annually at Acosta Group
- Educational background: MBA in Marketing from Indiana University, BA in Economics and Management from Albion College
- Acosta Group Overview:
- Collective of retail, marketing, and foodservice agencies
- Comprised of Acosta, ActionLink, CORE Foodservice, Mosaic, and Premium Retail Services
- Focus on connecting brands with consumers through transformative solutions
Key Discussion Points
Pet Food Customer Shopping Trends:
- Economic Factors: Despite economic challenges, pet owners are unwilling to compromise on pet expenses.
- Pet as Family: 96% of dog and cat owners consider their pets as family members.
- Budget Adjustments: Pet owners are more likely to adjust their own budgets to afford pet expenses.
Comparison with Other Industries:
- Baby Care Parallel: Similar reluctance to compromise in baby care and pet care due to perceived risks of switching brands.
Consumer Cutbacks:
- Price Sensitivity: Pet owners notice higher prices but are more concerned with ingredients than price.
- Moderating Concerns: Concern about high prices is moderating; consumers are used to it.
Top Priorities in Pet Food Purchases:
- Ingredients: Focus on transparency, health benefits, and simple, healthy ingredients.
- Health Concerns: Allergies, weight control, and digestion are top concerns for both dog and cat owners.
- Product Qualities: High protein, fresh, minimally processed, probiotics, joint care, natural, and organic.
Pet Supplements:
- Health Benefits: Consumers prefer getting health benefits from food directly rather than supplements alone.
Future Trends in Pet Food Market:
- Growth: Pet ownership and category size will continue to grow.
- Health-Focused Innovations: Better-for-you ingredients and health benefits will drive innovation.
- Consumer Predictions: Focus on natural ingredients, rising prices, AI-related technology, and personalized pet care.
Technology in Pet Care:
- AI and Wearables: AI for personalized pet care, smart collars, and fitness tracking devices.
- Robotic Pets: Potential for affordable, interactive robotic pets.
Communication with Pet Parents:
- Packaging: Clear, effective communication on packaging about ingredients and benefits.
- In-Store Help: Well-trained staff and organized store layouts.
- Social Media and Events: Leveraging social media platforms and experiential events to engage with pet owners.
Brand Loyalty:
- High Loyalty: 60% of pet owners are influenced by the brand they previously purchased.
- Importance of Brand: Brand loyalty remains strong despite economic pressures.
- Main Takeaway:
- Support Pet Owners: Help pet owners afford and care for their pets without compromising on quality. Avoid practices like shrinkflation.
Conclusion
Contact Information:
- Acosta Group: LinkedIn, Instagram, Website
- Podcast Feedback: Email Lindsay Beaton
Sponsor Reminder: Cargill’s TruMune postbiotic supports gut health, balanced immunity, and pet vitality.
- Closing: Thanks for tuning in, and stay updated with the latest trends in pet food by following the podcast on various platforms.