New research by PetO shows annual pet expenditure now sits at $16 billion for food and $5.5 billion for vet services, averaging $3,300 per dog and $2,100 per cat. With Christmas approaching, PetO reports Australians are expected to spend more than $1 billion on their pets this festive season.
The research shows a growing trend of ‘human-style’ pet care, with owners investing in premium diets and tailored services to ensure the comfort and wellbeing of their furry companions.
Michael Hollis, CEO of PetO, said they are seeing rapid growth in the types of products that you’d expect to see under the Christmas tree, from toys to special treats.
“This trend is why we’re predicting a 15 per cent uplift in sales this Christmas compared to last, but most importantly it’s great to see this festive cheer being passed on to our beloved pets.”
The research also highlights the growing “humanisation” of pets, with 31 per cent of Australians admitting they will spend more on their pets than some human relatives, and 43 per cent preferring to spend on pets over certain family members.
