The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Tails.com is a provider of personalized dog food direct to consumers at home. It uses algorithmic models and in-house ingredients to create bespoke diets tailored to the specific needs of subscribers’ pets at a price point comparable to high street brands.
Given the pet humanization trend, innovators are taking inspiration from human healthcare trends, such as supplements, weight loss, and stress management, and offering new convenient products and services to pet owners. With the advent of AI and the resulting flexibility in manufacturing processes, this is unleashing potential for personalized food menus for individual pets.
- The human trend for increasingly personalized products that are tailored to the very specific needs of the individual consumer also maps onto the pet care market. 35% of owners are always influenced by how well a product is attuned to their pet’s specific needs and personality, and a further 31% are often thus influenced.
- Millennials are the highest demographic for pet ownership globally (73%). Meanwhile, Generation Z are the leaders in choosing personalized products for their specific pets. Combined, the market for products and services that allow for a very specific degree of personalization to a particular pet is significant among digitally savvy, convenience-oriented young consumers who also have high-quality expectations.
- Personalized pet food, or any kind of similar offering in the digital age, must be backed up with solid platforms that allow brands to create personalized products for consumers based on the information that they provide.
- Brands offering personalization are commonly small challengers to the incumbent market leaders. Such start-ups are often, by nature, agile, creative risk-takers. In comparison, it is often difficult for major brands to compete in terms of those factors.
Reasons To Buy
- Use GlobalData’s selection of successful and failed product launches and marketing campaigns from across the globe to inspire innovation.
- Reduce the risk of failure by learning from brands/products that have under-performed: failed innovation can severely impact profit and reputation.
- Understand the relevant consumer trends and attitudes that drive and support innovation success.
- Obtain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.