Bad Economy Hasn’t Hurt Pet-Related Spending, Says APPA Study
Americans show loyalty toward a wide range of things, from political parties to sports teams to lipsticks. But there’s one area of devotion that most folks can agree on: their pets.
Some pet owners will stop at almost nothing to keep their pets happy and healthy, according to an August 2009 survey by the American Pet Products Association (Greenwich, Conn.).
When APPA asked 21,000 American pet owners about ways the economic downturn has influenced their pet ownership, here’s what they found:
- More than 80 percent have continued to spend the same amount on their pet.
- 70 percent said the current economic situation has had little negative impact on their decision to own a pet.
- 62 percent of horse owners, whose pets are among the costliest to maintain, said the economy hasn’t influenced their pet ownership. Five percent of horse owners actually reported spending more on their pets.
- 57 percent of households with income levels under $25,000 and 67 percent of households with incomes of $25,000 to $50,000 said their pet ownership levels have remained largely unchanged.
“This information further demonstrates that pet owners will continue to cut back in their personal lives before scaling back on their four-legged friends,” said Bob Vetere, APPA’s president. “This goes to show the strength of the human-animal bond and the joys that can be realized through responsible pet ownership. This is the primary reason that the pet industry continues to remain strong.”
While the pet sector enjoyed a steady stream of spending, Vetere said, American pet owners compensated by reducing spending on other household and leisure items. Across-the-board declines in spending on activities such as movies, plays, museums, sporting events, travel, dining and shopping suggest that Americans will readily reallocate money to maintain their pets’ quality of life. [March 2010 PET AGE]
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