Pet parents cut back
on personal spending to put pets first
As the cost of living continues to squeeze household budgets, PD Insurance has delved into the challenges facing New Zealand’s pet parents – exploring how they’re coping with rising expenses while managing the ongoing costs of caring for their furry family members.
The Your Pet and Your Pocket survey is the latest research from pet insurance specialist PD Insurance, offering fresh insights into how New Zealand pet owners are navigating the financial pressures of pet care.
And the good news is the survey—conducted with more than 1,500 PD Insurance policyholders— reveals just how deeply committed Kiwis remain to their furry companions, even in the face of economic strain. COO Michelle Le Long welcomed the finding, saying: “I’m pleased to see that difficult times are bringing out the best in Kiwi pet parents. There’s a reason we think of our pets as furbabies, because we’re willing to make sacrifices to keep them healthy and happy.”
That’s confirmed by comments from survey participants, with one reflecting a sentiment felt by many: “I love my dog so much she gets better treatment than I do.”
Cost of pet parenting going up
The survey found that 89.4% of respondents have noticed an increase in pet-related costs over the past two years, with 77.2% specifically citing veterinary care as a significant contributor. “With the cost of living being the number one issue facing New Zealanders, we wanted to understand how pet parents are coping,” said Le Long. “The data confirms that, despite financial pressures, many are finding thoughtful ways to continue prioritising their pets’ health and wellbeing.”
Financial strain has led to notable adjustments, with 50% of pet owners cutting back on their own personal expenses to prioritise their pets.
“Some of our pet parents have noted they now take care of their pet’s needs over their own wants. This reflects the level of responsibility people tend to feel towards pets, who are part of the family,” Le Long added.
Confirming this observation, another pet parent commented, “My pet is my number one priority, but I start to feel I am failing as an owner when I can’t afford her care at times, but I make it work and other priorities come second.”
Another acknowledged how differently pet parents are impacted, adding, “Fortunately we are financially able to meet the needs of our dog and treat her the way we want to, as she is our fur-baby. I have seen how hard it is for others to manage their pets in the current financial climate.”
Looking to stretch the dollars
The survey revealed opportunities for innovation in pet care, at least some of which draw on developments in human healthcare. A significant 39.1% of respondents expressed interest in telemedicine for pets, indicating a potential growth area for veterinary services.
Additionally, pet owners are increasingly open to alternative pet food options, with 24.5% potentially interested in lab-grown meat and 18.7% considering insect-based protein for their pets.
However, direct comments from the survey reveal divided opinions. While one pet parent said “Helping the planet is in my opinion, a high priority. If lab grown meat etc is as nutritious as the traditional meat, and my pets eat it, then I would give it a try,” another retorted “I don’t like the thought of artificial food,” with another adding “I wouldn’t eat insects, so wouldn’t feed [it to] my pets either.”
Adopted pets thrive with a second chance at love
There’s more good news—what’s kind to the wallet can also be a win for shelter animals. Adoption remains a strong trend, with 54.2% of respondents having welcomed a pet through adoption, highlighting a heartening desire to give otherwise abandoned or unwanted animals a well-deserved furever home. “It’s heartwarming to see more than half of our pet parents choosing adoption, giving animals a second chance at a loving home.”
Le Long said tough financial circumstances are unfortunate but added that the joy associated with pet parenting endures through thick and thin. “More than that, a shoutout to everyone doing their best despite the struggles.”