3 Things the Pet Industry Needs in 2018
There are still six very important weeks left before retailers can turn their calendars and full attention to 2018, but now—before what will hopefully be a busy and rewarding holiday selling season kicks into full swing—is the perfect time to start thinking about what the coming year will bring, if you haven’t already. With that in mind, here are three things that I believe need to happen in the months ahead to ensure the pet specialty retail channel’s continued prosperity:
1. The Next Big Nutrition Trend
Let’s face it: much of the pet industry’s success over the past decade can be attributed to the rise of the super-premium food category—specifically, the trend toward natural and grain-free diets. And while these trends certainly continue to pay dividends, it seems that we may be getting close to reaching a ceiling for the growth that they can drive for pet stores.
Hopefully, we will see the next big trend in pet nutrition move to the forefront in 2018. Could it be diets that incorporate the “ancient grains” that are hot in the world of human food right now? Will raw diets take a big step forward in realizing their full potential? Might something that is not on anybody’s radar just yet take the market by storm? Only time will tell, but let’s hope that whatever the next big pet food trend is has the same positive impact that natural and grain-free diets have provided over the last several years.
2. Better Channel Strategies
Over the past couple of years, pet product manufacturers have made big strides in helping pet stores stay competitive with online and mass retailers by instituting MAP and MRP policies, or even outright refusing to sell through certain outlets. Still, many could be doing more—particularly in the hard-goods side of the business, where there has been far less emphasis on issues such as pricing parity and channel differentiation.
The entire pet industry would benefit greatly if more manufacturers came up with better, more-defined channel strategies—particularly if they revolve around branding that differs from one channel to the next. The benefits of this type of approach are twofold, as it enables vendors to keep their independent pet specialty retail partners happy while maximizing sales through a variety of channels.
3. More Unity
Despite the efforts of many of its professional associations, the pet industry still often operates like a fragmented group of organizations with differing interests. While much progress has been made among the industry’s manufacturers and distributors, it seems that retailers are often underrepresented in efforts to present a unified voice for the industry—for example, in fighting harmful legislation and regulatory action at the local, state and federal level.
It is important that more retailers become active in advancing the industry’s common interests in 2018. This applies not only to helping in the battle against onerous government action, but also supporting forward-looking programs like the Human Animal Bond Research Institute and participating in industry-wide events such as the Pet Industry Leadership Conference (Jan. 28-31, 2018 in Naples, Fla.). Only a unified effort from all parts of the pet industry—including retailers—will ensure the continued success of the whole.