Americans Are Prioritizing Pets: Even In An Unpredictable Economy, Pets Are Still Living Large

Pets Over People

In terms of spending priorities, pets are winning hearts and wallets. 44% of survey respondents admit they’re more likely to splurge on their pet than on themselves, family or friends. Furthermore, nearly 35% say they’re more likely to buy a birthday gift for a friend’s pet than for the actual friend.

Whether it’s gourmet treats or comfortable beds, pet parents aren’t holding back, even in today’s economy where rising debt and high prices are a major concern. For example, over half of the consumers that responded to another recent CouponCabin survey indicated that they can’t afford retirement savings, and yet our most recent survey shows that spending on pets hasn’t dropped off.

That said, some pet purchases are a little out of the ordinary. In fact, 23% of respondents say they’ve bought a full outfit for their pet. Other quirky splurges include personalized birthday cakes, luxury beds (with price tags to match), pet strollers and even pet nail polish.

The Cost of Owning an Animal

Pets aren’t cheap, but, for most, they’re worth the price. Over half of the consumers surveyed spend between $500 and $1,999 a year on their pets, covering everything from routine vet visits to food, toys and treats…but more than 14% spend between $4,000 and $9,999 a year, which can be up to $833.25 a month.

What kinds of things can people be buying to spend nearly $10,000 a year? It’s more than just dog food. This cost can include special food, grooming sessions, prescription medicine, trips to the vet and pet insurance.

However, while nearly 75% say they opt for a pricier brand of pet food, that doesn’t necessarily mean the most expensive brand, suggesting that quality matters, but budgets still play a role. And toys may seem like the occasional treat, but 28% of pet owners buy new ones once or twice every six months. 7% pick up a new toy every week.

Where Pet Owners Shop for Their Furry Friends

When it comes to where the pet owners we surveyed are buying pet food, Chewy leads the pack, with 39% citing it as their go-to retailer. Petco isn’t far behind at 31%, followed by PetSmart at 29%. And while it carries far more than pet food and toys, Walmart also remains a popular choice for pet parents looking for convenience and competitive pricing.

Each retailer comes with its own savings method for shoppers. At Petco, customers can get 20% off grooming services and 10% off all nutrition items when they pay a monthly fee for a Vital Care Premier membership. PetSmart shoppers can sign up for Autoship to get 5% off regular deliveries and 35% off their first order. If you do not want to continue to pay for Autoship, you can cancel the subscription in your account.

Always be sure to read the fine print. A Vital Care Premier membership costs $19.99 a month for cats. If you're a dog owner, the cost is $24.99 a month. However, you can get the $19.99 rate when you pay $239.88 for a full year upfront.

Regardless of where they shop, pet parents aren’t skimping on food. More than half of those surveyed (54%) have considered switching where they buy their pet’s food, with 55% pointing to quality concerns.

Subscription boxes are also gaining traction, especially for pet owners looking to surprise their furry friends regularly. BarkBox is the most widely used at 49%.

For many Americans, pets are worth every penny. From essentials like food and treats to a stylish pet wardrobe, shoppers can maximize their savings at CouponCabin.