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.”
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