Article sponsored by WATT Global Media
Claire Obertin with Cleveland Research will examine how consumer survey insights and industry forecasts can improve company and retailer relationships during her Petfood Forum education session this spring.
Written by: Lisa Cleaver, senior reporter, Petfood Industrypetfoodindustry.com and Petfood Forum (photo source: Andrea Gantz)
Today’s pet food and animal health retail space is crowded and growing rapidly. How can a company stand out in this crowded and ever-changing field? Claire Obertin, market research associate at Cleveland Research, stays on top of trends through consumer survey insights and industry forecasts, which are key to cultivating best business practices and retailer relationships and rising to top
“At Cleveland Research, we work directly with leading brands in the pet and animal health space to determine what trends they are seeing within their brands and combine these themes with our leading industry insights,” said Obertin. “We are also working with a consumer panel of approximately 1,200 pet parents to identify key changes in shopping habits within the category.”
Obertin will note during his April 30 presentation at the Petfood Forum in Kansas City, that understanding where your company fits into the current state of the pet retail industry – supported by consumer survey insights and forecasts in the industry – will help you implement identified best practices and improve. retailer relationships.
“Our team works with hundreds of brands in the pet industry across retail channels,” he said. “This allows us to glean best practices, key inflection points, and insights into the pet food space in real time.”
Two trends: eCommerce and smaller budgets
At the moment, Obertin noted that he sees strength in mass merchandisers, particularly Walmart, as well as eCommerce sites like Amazon and Chewy, as pet consumers look to retailers that focus on cost when buying pet food.
Cleveland Research sees this trend continuing throughout 2024 and into 2025 as mass retailers and eCommerce make significant investments in their pet food offerings.
“It requires pet food brands to have an omnichannel strategy,” Obertin said. “They need to engage with pet parents in-store and online, communicating their value proposition and addressing key consumer concerns such as food quality, health, nutrition, and value.”
Another trend he noted is seeing consumers budgeting their pet food purchases. They’re looking to trade down on pack sizes — still very brand loyal — but have less appetite for an overall bag expense, he said.
“Notably, we see fresh/frozen/raw food growth as relatively inelastic, with strong growth prospects for these premium consumers through 2024,” he explained.
By understanding consumer behavior and overall industry predictions, brands can better allocate resources, adjust strategies, and partner with key retailers to drive growth.
3 best practices for your brand success
Cleveland Research partners use the relationships and subsequent data as a pulse check to ensure they are allocating resources correctly, engaging in effective promotional strategies, and forecasting in line with the industry, Obertin said.
“We’re constantly creating a channel within the industry, always adjusting our forecasts and outlook based on what we’re hearing,” he said.
Below are three best practices Obertin suggests to help brands succeed in today’s fast-paced pet food space.
- Invest with the winners. Prepare internal leadership for continued investment demands even when sales growth is likely to slow. The largest accounts are looking to leverage the momentum for incremental funding in 2024.
- Promotions. The promotional environment is expected to intensify in 2024. Support why a return to high/low promotional cadence or daily low pricing (EDLP) is best for your brand.
- Express the value. Across channels, pet owners are looking for value when shopping for their pets, whether it’s hardgoods, consumables, or prescriptions, the consumer needs to understand your brand’s value statement.
“Sharing information with experts in the pet food industry is what I do every day – whether through presentations like this, published work, webinars, podcasts, etc.,” says Obertin. “I look forward to engaging with the Petfood Forum audience to expand the reach of the Pet Insight Council as I share our insights and key takeaways for 2024.”
Claire Obertin, market research associate at Cleveland Research Co., will speak at the Petfood Forum on Tuesday, April 30, in Kansas City. His session, Tracking consumer and pet retail trends, will help attendees better understand how consumer survey insights and industry predictions can help implement identified best practices in their companies and retailer relationships. For more information, visit petfoodforumevents.com.
