New research shows that UK pet owners will continue to prioritise their pets when considering the 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.
Nearly half (42.1%) of the pet owners surveyed confirmed that they are cutting back on eating and drinking out to pay for increasing pet costs. Monthly streaming services such as Netflix are the second expenditure to go, with 24.7% of pet owners confirming that they will cancel these subscriptions to cover rising pet costs.
The third main area that UK pet owners are scaling back are groceries, with 10.6% of pet owners saying they are reducing their food bills to care for their pet’s needs.
The survey revealed that the main factor in rising pet care costs is the price of pet food, with 49.8% agreeing that the increasing cost of pet food has had the largest impact on their pet-related outgoings. Vet bills are the second-largest cause, with 11.8% of pet owners saying they have seen an increase in their spending on vet bills, and pet insurance third on 9.3%.
