Insights from SuperZoo presentations - Customer Trends
One of the greatest benefits of attending SuperZoo is the education and up-to-date trend information that one can learn—on the show floor, in SuperZoo University presentations, and at networking events. Here are a few examples from industry experts who track trends and data every day.
Michael Johnson, of Finn Cady Brand & Consumer Strategies, presented his research on consumer trends at IndiePet’s retailer breakfast. The full presentation deck is available to IndiePet members on our Member Resources page.
Michael observed the following about today’s pet customer:
Inflation has driven an overall reduction in consumer confidence.
Customers are encountering higher prices for all pet products compared to the beginning of 2020.
Pet owners are short on time and bombarded with product substitutions (due to supply chain issues) and conflicting messages. Shopping for their pets has become a task customers may not find as enjoyable as they once did.
On the positive side:
Pet owners view spending on their pets as important as spending on other necessities.
They will spend for value and experience, but they will not overspend.
Pet owners who visit an independent pet retailer for the first time report an overall positive shopping experience. The more frequently pet owners shop independents, the more confidence they gain in the expertise of staff and the better their reported experiences are.
From the perspective of the pet enthusiast, independent retailers’ advantages are passion for helping pets, in-person engagement and consultation, sense of community, product and pet knowledge, and product quality.
Pet customers may shop in multiple channels for pet supplies but want and appreciate the guidance and product knowledge that independent pet retailers can provide.
Independent pet retailers are holding on to their share of the overall pet market, which considering the explosion of online sales over the past two years, is commendable, but independents have not increased their share over the past year.
Based on consumer insights, the Finn Cady research suggests several areas of focus for independent pet retailers to increase their share of the pet industry.
Increase store visibility and local awareness to attract and bring new customers into their stores;
Improve perception of product knowledge and value;
Capitalize on available insights and data; and
Form a unified and cohesive voice with other independents. (The why of this suggestion will be addressed in a future segment of Finn Cady’s research presentation coming soon for IndiePet members via our Member Resources page. We’ll let you know when it is posted.)
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More insights on how consumers are reacting to pet inflation came from Nielsen IQ during an education session. Here are some take-aways:
Consumers are remaining loyal to brands despite price increases but may be shifting to smaller sized packages.
With the overall growth of online shopping, omni-channel marketing and communication is more important than ever.
Sales values of in-store and online shopping are higher than one or the other exclusively.
Online health services are growing, and pet owners are taking advantage of options.
IndiePet’s data insights partner, SPINS, observed the following trends on the show floor:
Holiday themed treats with recognizable flavors such as pumpkin pie and gingerbread were featured by many manufacturers this year.
Alternative ingredients and additional fruits and vegetables are attracting customers who seek “better” ingredients for their pets.
Sustainability in the food and packaging of pet products is increasingly important to pet owners.
For more detailed insights, operational benchmarks, and recorded webinars, visit IndiePet’s member-only Member Resources page.
