New research shows that pet owners across the UK have prioritised their pets when considering the recent rise in the cost of living.
Kennel manufacturer Benchmark Kennels surveyed over 500 UK pet owners to see which pet costs have risen the most and how pet owners are reducing spending elsewhere to pay for their pet’s needs.
The survey revealed that the main increase in pet food costs for half of pet owners is the cost of pet food. 49.8% agreed that the increasing cost of pet food has had the largest impact on their pet-related outgoings.
Vet bills are the second-largest cause of pet ownership costs increasing. 11.8% of pet owners say they have seen an increase in their spending on vet bills.
According to UK pet owners, pet insurance is the third main rising cost – 9.3% agree that pet insurance costs have risen.
The cost that hasn’t seen much movement is toys/bedding, with only 4.4% of pet owners seeing an increase in these costs.
As pet owners are faced with all of these increasing ownership costs, how are they cutting back on spending elsewhere to pay for their pets?
Just under half (42.1%) of the surveyed pet owners confirmed that they are cutting back on eating and drinking out to pay for increasing pet costs.
Monthly streaming services such as Netflix and Amazon prime are the second expenditure to go. 24.7% of pet owners confirmed that they will cancel these streaming subscription(s) to cover their four-legged friends’ costs.
The third main area that UK pet owners are scaling back on to cover pet costs are groceries. 10.6% of pet owners are reducing their food bills to care for their pet’s needs.
Just 1.7% of pet owners confirmed they don’t need to change any of their outgoings to pay for their pet costs.
Cheryl Sampson, Marketing Manager at Benchmark Kennels, said: “As the cost of living across the UK increases, so do pet ownership costs such as pet food, vet bills, and grooming.
“When considering whether or not to purchase a puppy or kitten, it is essential to do thorough research into the day-to-day costs of owning a dog. Pet food may be more expensive than you first thought. Pair this with vet bills and insurance costs, and the total price of owning a pet begins to pile up.
“Ensuring that the dog’s needs are taken care of is the top priority. Cutting back on luxuries such as eating out or cancelling streaming subscriptions is imperative in ensuring pet costs are cared for first.
“Being realistic in the early stages of research will set each pet owner upon a good foundation. Taking time to review your pet’s needs and potential outgoings will allow you to appreciate the joy they can bring.”
