Most pet owners have maintained or even increased their spending on pets in recent months, according to a survey by Elanco, an animal health company. The survey of 2,018 US adults revealed that 93% of pet owners have not decreased spending, with 32% increasing their expenditures.
Looking ahead, 93% of pet owners anticipate maintaining or raising their spending over the next year, similar to previous surveys. Only 7% indicated they would cut back on pet health spending if money became tight, compared to larger percentages willing to reduce spending on dining out (54%), travel (44%), and digital subscriptions (33%).
The welfare of pets is a significant priority for owners, with 87% stating their pet’s happiness is as important as their own, and 63% deeming it even more crucial. Key reasons for pet spending include health and longevity (65%), happiness and comfort (59%), and treating pets as family (54%).
Bobby Modi, an executive at Elanco, emphasized that pet health is seen as a vital commitment, not a luxury, highlighting pet owners’ dedication to their pets’ well-being even in difficult economic times.
