Scott Morris on pricing strategy
From Plant based pet food: Freshpet discusses the launch of vegan food for pets · · Yahoo Finance
“This is slightly more expensive, part of it is because of the work we've done developing it and that it's earlier stage, the way the product is produced. We're trying to get it out to as many consumers as possible, so we're trying to make it affordable. It will be on the higher end of the market but trying to keep it affordable and accessible to as many consumers who want a solution like this as possible.”
On , Scott Morris, Co-Founder & President at FRESHPET INC, spoke about pricing strategy during Plant based pet food: Freshpet discusses the launch of vegan food for pets on Yahoo Finance.
About Scott Morris
In September 2022, Scott Morris, Co-Founder and President of Freshpet, discussed the company's launch of a plant-based pet food. Morris stated that the decision was driven by consumer research showing millennial and Gen Z consumers, who he said make up over half of the consumer base, are "very focused on sustainability," "animal ethics," and "the environmental impact." He noted that these demographics are vegetarians and vegans at twice the rate of older generations, and that Freshpet saw "a real opportunity to bring a plant-based product to market" using the same nutritional approach as its other products. Morris said the product was formulated with veterinarians and veterinary nutritionists and underwent feeding studies before launch. He described the initial rollout as beginning at Petco, with plans to expand to most of Freshpet's 27,000 retail refrigerators over the following year. Morris acknowledged the product is "slightly more expensive" due to development costs and early-stage production, but said the company aimed to keep it "affordable and accessible" to consumers seeking such an option.