Survey reveals 1 in 3 US pet parents worry about pet expenses

The 9th edition of APPA’s pulse study concludes that 1 in 4 American pet parents imply that their pet ownership has been affected in some way by recent economic conditions. The study notes that the proportion of those who say the impact has been positive (16%) continues to be greater than those who have been affected negatively (11%).

Across all age groups, younger pet parents seem the most forthcoming in suggesting that the current economic situation has positively impacted pet parenting. The study found that 24% of Gen Z and 22% of millennials got a new pet, while 8% of Gen Z said they had to give up a pet, as did 4% of millennials.

Households with children were less affected by their pet ownership, according to the APPA. A total of 35% said they were impacted, 26% positively, and 12% negatively. 

Cost of living 

One-third of pet parents surveyed said they are concerned about the cost of having an animal in the current economy, and 18% dread they may have to give up their pet. However, 77% noted that devoting time to their pets helps reduce stress levels.

Recession fears plague 69% of surveyed pet parents, while 60% showed concerns about their finances over the next year. More than 9 out of 10 respondents agreed that they were financially affected by the hike in food and grocery bills.

There was an uptick in the proportion who showed concern about the impact of supply chain and staffing issues to get the pet care products they require, from 36% to 41%.

New pets 

The 3 surveys conducted by the APPA in June, September, and December revealed the number of pets in American homes remained stable at 73%. 

Consistency in the number of pets owned was the highest in baby boomers (people born between 1946 and 1964) at 81%, followed by Gen X (those born from 1965 to 1980) at 79%.

In contrast, the survey revealed that Gen Z (45%) and millennials (32%) parented a varying number of pets in the given period. The study found that 33% of Gen Z and 27% of millennials had more pets in December than they did 3 months earlier.