Kiwi Pet Owners Prioritize Pets Over Their Own Finances Amid Rising Costs
New Zealand households are feeling the pinch of inflation, and it's not just human family members who are shouldering the burden. According to Stats NZ data, the average price of vet care has risen by 40.3% over the past five years, while pet-related products have increased by 27.1%. In contrast, overall consumer prices have risen by 25.6%, and wages have only increased by 17.3%
The cost of keeping a pet continues to rise, with many owners making sacrifices to provide for their pets' needs. A recent survey found that 58.8% of respondents had reduced their spending on luxuries, gifts, and nice-to-haves for themselves, but only 26.4% had made similar cutbacks for their pets.
When it comes to pet food, many owners are opting for cheaper brands or products, with 21.3% of respondents choosing cheaper options in recent years. Some are even scaling back on routine wellness check-ups, with 10.2% reducing how often they take their pet to the vet.
Pet insurance chief operating officer Michelle Le Long noted that many New Zealanders prioritize their pets' wellbeing over their own discretionary spending. 'While some pet owners are switching to more affordable pet food brands or scaling back on treats and extras, the overall picture is one of people making personal sacrifices to continue providing the best care they can for their pets.'