This article appeared as the fifth article in the August 5 edition of IBPSA FastBites <Link>. NPR’s Lola Murti shares the challenges of rising costs for pet owners, how they are adjusting and what drives cost increases across the pet services industry.
Source: NPR, July 30, 2024. Link.
“<Re: price increases> It’s higher ingredient, higher packaging, higher trucking costs. Those get passed down through the entire supply chain . . . Employment costs are going up. Hourly wages are going up.” – Pete Scott, APPA president
INSIGHTS: Murti’s examples of decisions being made show the importance of value perception and consumers’ brand confidence.