Pet Owners Are Willing to Pay for Convenience
A new survey finds that more and more people are willing to spend on monthly services that will simplify their lives and benefit their pets.
A growing number of Americans are willing to pay for services that simplify their lives. This is according to research from finder.com that found 46% of adults admit to spending extra money each month on services such as food delivery, driving, handiwork, and subscription boxes in order to save on time. Together, this amounts to an estimated $177 billion spent each year.
Pet care also lands high on the list of things for which people are willing to pay.
Data collected from a June 2018 survey of 2,020 adults in the United States found that people are willing to pay the most for food delivery and driving services, but they also spend an average of $19 a month on pet services, such as dog walkers and groomers. And 44% of those surveyed admitted they’ve signed up for subscription services that send curated items directly to their homes. Included in this category are boxes specifically for pets, like BarkBox, which sends treat, toys, and other goodies designed to make your dog’s tail wag.
The survey also found that men are more likely to pay for services based on convenience. In fact, men spend more than double what women pay for pet services ($11/women; $26/men). In addition, age plays a factor. Across all categories, Generation Y indulges in convenience the most, doling out an average $41 a month for help compared with $20 for baby boomers and $13 for Generation X.
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Evidence suggests that people’s lifestyles play an important role in how much they’re willing to spend on outside help. In the pet care category, people with part-time jobs spend the most on services for Fido ($44 per month). Married couples or people in long-term relationships spend slightly more than their single counterparts who have never been married ($21 compared to $20, respectively).
These findings are in line with other studies that suggest a growing number of people, especially younger generations, are willing to spend more on their pets than ever before. A TD Ameritrade survey from earlier this year found that millennial pet owners spend $67 billion per year on pet dogs and $33.5 billion per year on pet cats. Millennial dog owners also expect to spend more on their dog throughout its lifetime than on their own personal medical costs.
While every client’s situation is different, veterinary practices can use these finding to tailor how they market their supplementary services. For instance, male clients under the age of 30 might be more inclined to take advantage of the boarding and grooming services that your clinic offers, in addition to standard medical care.