Petfood Forum recently spoke with Michael Johnson, Chief Executive Officer of Finn Cady, to learn more about his 2021 Petfood Forum presentation. Johnson will discuss tips for connecting with pet food consumers in a changing landscape on Thursday, September 23, at 8:50-9:30 am. Register here to learn from Johnson and 30+ other industry experts.
Businesses rise and fall based on their ability to respond to consumer need and engage shopper imagination. Retailers, brands and manufacturers have exciting opportunities in this new market environment, but the strategy playbook has changed. This session looks at real-world scenarios and opportunities, while envisioning the future of pet consumer behavior and spending.
Petfood Forum: How would you summarize the consumer pet marketplace in 2021?
Michael: Frenetic and evolving. We love to purchase things for our pets, but pet shopping is not our favorite “activity” shopping. Consumers have always valued speed, convenience, and ease of decision-making when buying pet products. Online was a burgeoning behemoth before the pandemic, and has only gotten stronger since. Further, at least three pet categories are now among the top ten subscription purchase categories. What should the industry do if traffic continues to migrate online at this pace?
Petfood Forum: What do you consider the top 3 opportunities for pet food manufacturers in the next 5 years?
Michael: With consumers able to purchase anything they want – anywhere they want – any time they want, few things are as important as building a resonant consumer brand. Innovation is differentiation. Stop doing what everyone else is doing. Know who your consumers are and be the specific solution for them. If you are not yet DTC (direct to consumer) in some capacity, start thinking about it. Don’t rely solely on retailers to reach your customers.
Petfood Forum: How should manufacturing leadership strategize to meet future demand?
Michael: The industry has grown through increases in pet ownership, expanded distribution (across pet, food, drug, mass, club channels, etc.), and via inflationary “trade up” product development/pricing. Not every pet parent can continue to follow us up the price/quality ladder, and this is why we’re seeing so many alternative and even “value” channels now selling pet products. What is the trade-off between having a high-end pet product or having access to more pet consumers? How can you position your products for the market you have today and the market you’ll need tomorrow? They may not be the same market.
Petfood Forum: What pets rule the Johnson household?
Michael: The Johnsons are a cat household.
About Petfood Forum
The 2021 edition of Petfood Forum is scheduled for September 22-24 at the Kansas City Convention Center in Kansas City, Missouri, USA. Petfood Forum includes an agenda packed with opportunities to network and collaborate with industry professionals, learn the latest in pet food innovation and discover new tools for business success.
