HungryPetCo* is a leader in the nutritional pet food market with dominant positions in both prescription and wellness products.
The company has two main product categories: prescription products sold exclusively through vet channels and wellness products sold through vet and pet channels.
Recently, the company's longtime high growth trajectory flattened as the marketplace matured and new entrants gained market share. To improve revenues and profit margins, the company needed to adapt to the new competitive landscape. HungryPetCo asked Bain to help it regain sales momentum.
Bain quantified the effectiveness of current sales efforts and then created a new, differentiated approach to sales and trade marketing based on the highest-value accounts
Bain recommended a new strategy and organizational plan, based on the finding that sales to the trade and growing pet accounts represented the greatest opportunities.
HungryPetCo implemented Bain's sales improvement recommendations and growth plan, and the company soon doubled its revenue and profit growth.