Power of the ‘pooch pound’ – nation spends £12 billion on ‘man’s best friend’
A new study has found that UK dog owners now spend a total of £12 billion on their pets every year.
The research by American Express also reveals that the owners now spend £1.36 billion more than they did in 2016 and that some of the main beneficiaries are small independent retailers that have set up to cater for the rising demand for pet products.
The study found that average spend per dog has also risen, climbing to £1,342 per dog from £1,252 in 2016.
Over half of pet owners polled said they like to use small and independent retailers for buying pet products due to the quality of service and the fact that shop owners know their pets and can help find the best products for them.
Commissioned by American Express ahead of Small Business Saturday, the research also found that dog owners will spend £166 million in total – an average of £18.42 per dog – on Christmas treats and gifts. Some 25% of the nation’s dogs will receive a Christmas stocking this year while one in ten dogs will find themselves dressed for the season in a canine Christmas jumper.
Looking at the rest of the year, the study found that dog owners spend an average of £390.48 a year on dog food, £251.76 on insurance and £63.87 on their dog’s health. The remaining average discretionary spend of £636.11 is used to buy items and services such as toys, professional grooming, kennels, clothing and accessories.
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Caroline Bouvet, VP at American Express said “It’s no secret that we are a nation of dog lovers, and we love to spoil them. Our research shows that British dog owners are spending more and more on treats for their pets, and many of them are choosing small businesses to do so thanks to the great products and tailored service they provide.”
