Monday, January 13, 2025

EPISODE 64: Exploring Current Trends in Pet Food Shopping

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

  1. 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.
  2. Comparison with Other Industries:

    • Baby Care Parallel: Similar reluctance to compromise in baby care and pet care due to perceived risks of switching brands.
  3. 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.
  4. 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.
  5. Pet Supplements:

    • Health Benefits: Consumers prefer getting health benefits from food directly rather than supplements alone.
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. 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:

  • 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.

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