The evolution of pet parents’ retail habits over the past year
Spending on food and supplies has risen, more are opting for online healthcare purchases and price significance has reduced when choosing retailers.
Global investment bank RBC Capital Markets’ third annual pet survey reveals notable shifts in pet ownership and consumer behavior over the past year.
Selecting a retailer
When selecting retailers, price remains the most important factor for consumers, though its significance has waned since last year.
Other factors like product selection, store location and e-commerce/delivery capabilities have gained importance.
Conversely, the focus on customer service and the option to buy online and pick up in-store has decreased.
Online shopping
Pet food is the most popular product purchased online at 72.3%, followed by treats at 68%, accessories at 61.4%, pharmacy items at 37.1% and insurance at 11.1%.
Notably, the proportion of pet parents buying healthcare supplies online surged from approximately 58% in 2023 to 74% this year.
Overall, online pet product shopping rose significantly, from 78.4% in 2022 to 88.9% in 2024.
Spending attitudes
52.1% of pet owners have increased their expenditure on pet food and treats in the last 3 months, up 36% from the previous year.
Only 4.8% reported reducing their spending, with 44.1% maintaining their expenses compared to last year.
Among those who spent less, 66% switched to cheaper pet food, 28% opted for less expensive versions, 20% bought smaller pack sizes and 12% purchased fewer treats.
Spending on pet supplies like toys and beds also rose for 48% of respondents, while those reporting decreased spending dropped from 8.9% in 2023 to 6.7% this year.
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