Home News 6 pandemic innovation strategies for pet food brands – PetfoodIndustry.com

6 pandemic innovation strategies for pet food brands – PetfoodIndustry.com

5 min read
0
0
44

As the COVID-19 pandemic continues destroying lives and livelihoods around the planet, some pet food companies have found ways to adapt and meet consumers’ needs. Continuing to innovate during the pandemic may be key to a company’s success during this turbulence. In the webinar “Innovating During Coronavirus: A Guide to Recovery and Business Growth,” market analysts with Euromonitor International presented examples of how brands have met consumer and market demands during the pandemic.

1. New Needs

In South Korea, a fast food chain quickly pivoted to delivering meal kits of their most popular dishes and broadcasting cooking shows, Stella Vatcheva, Euromonitor head of innovation, said during the webinar.

“COVID-19 has been a catalyst across many segments, and it is increasingly clear that innovation will underpin their recovery,” she said. “It’s a large opportunity for many companies to reimagine the organization’s core competencies and business model and bring it up to date.”

Related Petfood Industry news:

Automation and in-out shopping change pet food retail

Direct-to-consumer: next big opportunity for pet food?

2. Purpose

“Some companies like Unilever have reinforced the purpose of the organization by providing cash flow relief for companies across its supply chain,” she said. “Also, donating soap and hand sanitizer, bleach and food, along hygiene awareness campaigns.”

Related Petfood Industry news:

“I and Love and You” donates more than one million meals

ROYAL CANIN “Pet-First” philosophy mobilizes team

PureBites donates $500,000 worth of dog and cat treats

Hill’s Pet Nutrition to support animal shelters impacted by COVID-19

3. Digital

“Some ventured into the digital space like Pepsi launching a direct to consumer delivery for snack bundles in the U.S.,” Vatcheva said.

Related Petfood Industry news:

By 2024, e-commerce pet product sales may be top channel

Social media and you: Yes, your customers are watching

US pet food e-commerce interest grew to 28% in pandemic

Premium pet food buyers double down on e-commerce

4. Agile

“We have seen many demonstrate an agile approach, like EMI Controls repurposing its artificial snow cannons as aerosol machines to fumigate indoor spaces with disinfectants for a number of businesses,” she said.

Related Petfood Industry news:

Future mergers and acquisitions shaped by pandemic buying

Vet telemedicine, online food ordering up during COVID-19

Virtual events diversify participants, reduce pollution

Global transportation challenges reach pet food

5. Value

Brands have to offer value for cash-strapped consumers facing uncertainty, she said. Nike, for example, offered its premium online training app for free.

Related Petfood Industry news:

U.S. pet owners not (yet) decreasing spending on pet food

6. Innovation

There has been some innovation along the way, too, she said.

Related Petfood Industry news:

New pet food product development perseveres in pandemic

Blue Buffalo new wet foods, treat ads planned for FY21

Let’s block ads! (Why?)


Source link

Load More Related Articles
Load More By Pets Lover
Load More In News

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

OPINION: Insatiable greed for public money in SA is deadlier than Covid-19 – Independent Online

By Douglas Gibson South Africa’s sickness is not Covid-19. It is greed. Written nearly 3 0…