According to recently released U.S. consumer research from Elanco Animal Health, pet owners continue to prioritize pet health spending despite economic pressures.
The vast majority (93%) of pet owners surveyed spent the same amount or more on their pets over the past three months, and 93% expect to maintain or increase spending over the next year. Only 7% said they would cut pet health spending if economic pressure increased, with cuts to dining out, entertainment, travel, and digital subscriptions more likely.
Pet owners reported pet health and longevity as the main reasons for pet spending, followed by keeping their pets happy and comfortable.
The survey showed that while 80% of pet owners use Google and 59% use AI before contacting their veterinarian, veterinarians remain the main source of pet health information. A veterinarian’s recommendation is the top reason pet owners would switch medications, over saving money through rebates or discounts.
The research also supports a continued influx of new pets, with 21% of consumers planning to get a new pet in the next year, including 11% of consumers who don’t currently have one.
Elanco’s research shows that although consumer habits are changing, pet owners continue to protect pet health spending and rely on veterinarians as a trusted resource.