Ever noticed how much of your budget belongs to your pets?
It might be disappearing on uber trendy health treats, gourmet frozen dinners for the doggles, designer furniture for the scratchers and purrers, or the latest high-tech gadgets for your darling budgie.
If spending is anything to go by, committed pet parents across the earth agree that every expense that improves quality of life is money well spent.
Research cited in The Economist points out that the pet-care market has grown by more than 66% in the last ten years. Globally, that market has grown 43%.
Business Insider reports that “Nielsen data has shown that annual household spending on pet food among pet owners increased by 36% between 2007 and 2017”.
There are a few reasons for this trend:
• More people see pets as part of the family, especially Millennials who are in their 20s and 30s now, and
• wealth has increased overall as well. “As people grow wealthier, their attitudes to domestic animals tend to change”, Business Insider points out.
Who leads the pack in pet care spending?
Sixty percent of USA households has a pet and 95% of American pet owners think of their pets as family members.
Some pet parents prize their dogs so much they enter them into doggy beauty pageants. Professional canine competitors can cost their humans the equivalent of over R 4 million per year.
In 2019, humans of the United States of America spent $52 billion, with 35% of that going to accessories (and the rest to food). Calculated per person, this puts America first for splashing out on pets.
But they’re not the only ones spending on our non-human companions.
The runners up
It continues that in the same year, Britain spent around R1,560 per person, placing it second, and France splashed out with $1,460 per person in third place.
Thereafter, in descending order, the nations of Switzerland, Germany, Italy, Japan, Spain, South Korea, Singapore, and South Africa at number 12.
Will we see South Africa rise in the ranks? One thing’s for sure, vet bills are not going to get any cheaper…unless you have superlative pet cover at a price you can pick. We already insure thousands of people with pets and have paid out millions in pet claims to date. And if you add more than one pet to your policy, we give you 15% off your total premium!* Best thing is, you can simply add a pet to your policy via your dotsure.co.za Manage Portal here.
Spend your money wisely. Get a quote pet insurance quote now.
*T&Cs apply and are obtainable by emailing firstname.lastname@example.org. Limits and prices displayed applicable as at date of publishing and may be subject to change.