How are Kiwi pet owners coping after feeling financially burdened?

A recent survey from insurance provider PD Insurance shines some light about how pet owners in New Zealand are coping with the current inflationary situation.

The financial burden

According to the data, 23.1% of Kiwi owners found pet care costs financially challenging, while 39.3% “sometimes” felt this way. Yet, nearly a quarter of respondents (24.8%) did not have a pet ownership budget.

Among those who did, 53.3% chose to buy food and supplies in bulk, 42% groomed their pets themselves, 36.9% used coupons or looked for sales and 8.5% chose to make their pets’ toys or beds.

More than 2,000 pet owners replied to the survey, most of them dog owners (58.7%). Cat parents accounted for 22.6%, followed by parents owning both a cat and a dog (18.7%).

Annual pet spending

Excluding veterinary bills, less than a fifth (18.1%) of respondents spent between NZ$500 ($306/€282) to NZ$1,000 ($612/€565) on their pets annually.

As much as 64.2% of pet parents reported spending between NZ$1,000 ($612/€565) and NZ$3,000 ($1,836/€1,696). Nearly 2 out of 10 (17.7%) Kiwi pet parents forked out NZ$3,000 ($1,836/€1,696) or more on their furry friends.

For most pet owners (42.5%), monthly food costs averaged between NZ$100 ($59.53/€54.95) and NZ$250 ($148.81/€137.36).

How are pets pampered?

According to the survey, 32% of pet parents in New Zealand purchased pet toys or other presents for their companions every month, while 28.9% did so every 3 months.

Almost three-fifths of pet owners (71.3%) reported celebrating their pet’s birthday. Over half (53.5%) brought pet-friendly gifts to commemorate the occasion, while nearly two-fifths (39.9%) purchased cake and treats.

Gourmet food or treats were the most popular luxury purchases (59.1%), followed by high-end beds (26.5%), an indoor or outdoor play area (16.4%), and smart collars (12.9%). Pet strollers and spa treatments were the least popular luxury purchases.

Benefits from workspaces

Most pet owners insured their companions, though a fifth (20.4%) reported having 1 or more uninsured pets. Kiwis had split opinions on employers offering pet insurance as a pay package benefit: 51.3% were in favor, while 48.7% weren’t.

82.3% of parents agreed that employers should provide leave for a sick pet or bereavement leave to mourn the loss of a companion animal.

Pet-friendly accommodations

Most of those surveyed owned their homes (77%), though 23%, or 498, rented. Most of the 501 respondents (293) to the question of finding pet-friendly accommodation to rent said it was “extremely difficult.”

However, 453 out of 499 respondents said they never had to rehome their companion animals because they could not find a pet-friendly rental.

A vast majority (90%) said they were willing to pay pet bonds, with 43% willing to pay NZ$50 ($30/€28) more for a pet-friendly rental option.