A survey from Dutch retailer Pets Place reveals that 20% of respondents have spent less money every month on their pets in the second half of 2022.
Around 25% of consumers now spend between €25 and €50 per month on their pets. A third of consumers’ monthly budget is between €50 and €100. Almost 15% spend more than €200 on their pet.
The categories showing the most significant cutbacks were toys (36%) and accessories (23%).
The survey of 6,000 pet owners indicates that almost all prefer not to cut back on pet spending. A whopping 94% indicated they would rather spoil their pet instead of themselves.
Dieke van Triest, Paraveterinarian at Pets Place, warns: “Because of the increased energy prices, some consumers might be forced to cut back on medical care for their pet. This could potentially lead to the unnecessary suffering of animals.”
The latest articles
European pet food manufacturers establish new group
SANYpet, Natural Line and Codico have created a new production and distribution group to capture the international market.
Flybird Holding’s tender offer for Musti is expected to be completed by March
Portuguese group Sonae increased the amount that shareholders of the Nordic pet retailer will obtain to €26.10 per share.
Zoetis increased revenue by 6% in 2023
Sales of its osteoarthritis, flea, tick and heartworm medications have driven the company’s pet portfolio’s positive results in the last quarter of 2023.
Weekly newsletter to stay up-to-date
Discover what’s happening in the pet industry. Get the must-read stories and insights in your inbox.