Survey: Americans Willing to Make Financial Sacrifices for Their Dogs

Woman kissing her pet dog

Despite the high cost of having a pet dog, most pet owners in the U.S. are willing to make financial sacrifices to keep their household companion.

The cost of dog ownership now reaches $153 per month, based on a survey. The American Pet Products Association (APPA) expect spending for 2018 to reach more than $72 billion, up from $69.51 billion in the previous year.

Big Opportunity

Veterinarians are among those who would benefit from the projected increase in spending, so it makes sense for them to rethink their promotional strategies. It doesn’t need to cost a lot and it may just involve a simple makeover of your veterinary prescription label. Positive Impressions, LLC explains that the business of pet care and treatment has become a huge one in the country, where it is valued at $17 billion.

That said, it only makes sense to make your practice more visible and relevant to your target market. Millennials, for instance, tend to own more pets than any other generation. Overall, pet owners in the country are expected to spend $18.26 billion on veterinary care alone in 2018.

Pet Expenses

Food still accounts for the largest portion of any pet owner’s expenses. The APPA expects Americans to spend almost $30 billion on this necessity. Spending on pet supplies and over-the-counter medicine will also reach $15.51 billion.

Since most people are too busy looking for different shops, they will likely frequent a veterinarian who could provide as many products and services as possible aside from the usual care and treatment. Some are even willing to treat their dogs to a massage session.

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Americans will not likely stop splurging on their pets anytime soon, given that most of them are willing to spend more on their dogs than on themselves. Veterinarians should know how to expand their client base, particularly among heavy spenders.