Australians showed their love for their household pets in 2016 by spending $12.2 billion on different products and services, according to an Animal Medicines Australia (AMA) study.
Different expenses ranged from healthcare products to premium dog food. Online retailers for these pet supplies have made it easier for owners to avail of such items. The amount spent in the previous represented a 42 per cent increase since 2013.
AMA Executive Director Ben Stapley said that many businesses had taken advantage of pet owners’ willingness to spend, by offering new products and services that did not exist in the last four years. A doggy day spa serves as a good example.
The study based its findings on 5.7 million households that have at least one pet. For those that own a dog, Australians spend around $1,975 on average per year. This includes $622 and $397 on food and veterinary services, respectively. Households that own cats spend an average of $1,029 per year. The amount of spending reflects Australians’ desire to give nothing but the best for their pets.
Some Australians even spend more on their pets than buying products for themselves, according to a national survey. Out of four Australians, one pet owners spends up to 30 per cent of their disposable income on their household companions. However, more than 46 per cent of respondents said that their pets are a financial liability.
Still, the country ranks among countries with the most number of pet owners. According to the Choosi Pet Report, nearly 97 per cent of Australians consider their cat or dog to be part of the family.
Australians’ spending on their pets reveals that many are willing to pay for premium products and services, even if it sometimes means sacrificing their own needs.