Reliance Consumer Products eyes pet food market with steep price cuts

The products under the conglomerate's new brand Waggies will be rolled out across general trade outlets and semi-urban stores in tier-2 hubs

Reliance Consumer Products Ltd (RCPL), the fast moving consumer goods (FMCG) arm of Reliance Retail, is gearing up to enter India’s fast-growing pet food market with an aggressive pricing strategy, The Economic Times reported. The company has informed distributors and trade partners that its new pet food brand, Waggies, will be priced 20-50 per cent lower than products offered by established players such as Nestlé, Mars, Godrej Consumer Products, and Emami.

 

The products will be rolled out across general trade outlets and semi-urban stores in tier-2 hubs, signalling Reliance’s intent to tap into the expanding pet care segment driven by rising pet ownership and a shift towards premium food products.

 

A familiar Reliance playbook

The move mirrors Reliance’s long-standing strategy of slashing prices to rapidly scale new businesses. From Jio’s disruptive telecom launch in 2016 to Campa Cola’s re-entry into the beverages market and JioCinema’s low-cost streaming plans, the conglomerate has repeatedly used aggressive pricing to build mass adoption.

 

Campa Cola's beverages are sold 20-40 per cent cheaper than competitors across soft drinks, juices, energy drinks, water and staples, forcing rivals to ramp up promotions, revise margins or introduce lower-priced packs.

 

Last year, JioCinema cut prices for its premium ad-free subscription to ₹29 per month for individuals and ₹89 for a family plan, nearly half of its original rates. The platform previously streamed the Indian Premier League (IPL) for free to attract users, undercutting Disney+ Hotstar, which offered IPL access on plans starting at ₹299 in 2022.

 

In 2016, Reliance Jio reshaped India’s digital landscape with free, unlimited high-speed 4G data and calling, helping the company acquire 16 million subscribers within a month and 50 million within 83 days of launch.

Pet foods business

According to a report released by Redseer last month, the petcare market, currently valued at $3.5 billion, is expected to reach $7-7.5 billion by FY28. The report noted that people are no longer just looking for basic care but are seeking premium, specialised offerings.

 

The report also said that pet adoption has been on the rise in the country. Indian households had around 32 million pets as of the financial year 2023-24. The pet population saw a noticeable uptick during the Covid-19 pandemic, with many households adopting stray animals or rescuing pets. This shift led to a surge in the pet care market as new pet parents began spending more on pet upkeep, health, and overall well-being.