What is your pet worth?
We all know that Britain is a nation of pet-lovers. Whether they have fur or feathers, skin or scales, our pets are the loyal companions who stay by our sides through thick and thin.
Taking care of a pet isn’t cheap. There’s food (and treats), bedding, toys, cute outfits, grooming equipment, vets’ bills, training and obedience classes, and you may also need dog walkers and cattery/kennel services for those times when you’re not around.
So just how much are our pets worth to the UK economy – and where do they rank in the household hierarchy when it comes to spending?
The value of UK pet care
According to Mintel, the total UK pet care market was worth £1.92 billion in 2021.[1] This followed a surge in ownership during the Covid pandemic, with 78% of owners saying their pet made a major contribution to their wellbeing during lockdown.
Most people (57%) own a pet, with 37% putting money saved over the course of the pandemic towards looking after their companion.[2]
In fact, Mintel’s retail analyst Marco Amasanti described the pandemic as “a positive development in the UK pet care market”.
“Lifestyle changes have seen an unprecedented rise in ownership, boosted immediate spending and triggered a newfound appreciation of pets,” he added.
How much do we spend on pet care in the UK?
Figures from Nationwide show that their customers spent £51.8 million on debit and credit cards across pet care categories in June 2024, representing a 4% increase on the same period in 2023.[3]
In comparison, the same customers’ total rent payments came to £32.9 million and childcare costs reached £37 million.
Pet care expenditure: what do we spend our money on?
A survey of 1,000 pet owners commissioned by Nationwide at the time revealed the amounts we spend on essentials and unexpected pet costs:
- £126 per month on expected costs (food, treats, bedding, insurance etc)
- £140 on grooming
- £140 on vet bills
- £245 on kennels
- £247 on home repairs
- £248 on dog walkers
- £262 on dental care
- £264 on pet training
- £338 on injuries
- £361 on long-term health problems
Mark Nalder, strategy and performance director at Nationwide, said: “While people plan for everyday costs such as food or insurance, it is the additional costs that can soon mount up, such as kennel costs or vet bills and long-term health conditions not covered by insurance.”
The price of pet food
Pet food alone is a £4.1 billion market, according to UK Pet Food.[4] With 36 million pets living in 17.2 million British households, that’s about £240 per household per year.
Feeding a large dog will inevitably cost more than feeding a hamster or a goldfish – and that’s reflected in the market share:
- Dogs: £2 billion
- Cats: £1.53 billion
- Outdoor birds: £385 million
- Fish: £68 million
- Small mammals: £65 million
- Indoor birds: £16 million
With the value of the UK pet food segment up 7.9% year-on-year, that’s an extra £300 million added to the nation’s combined cost of keeping pets, on food alone.
Your pet or your partner?
As pets are often regarded as fully fledged family members, they don’t get left out at Christmas.
Research by Mintel[5] found that 51% of pet care consumers would rather spend less on themselves than cut back spending on their buddy.
Nearly a third (32%) said they spend as much on their pet as they do on their friends for special occasions, rising to two fifths (40%) of Millennials.
Even human companions don’t necessarily get top billing, as a separate survey by Petplan[6] showed that nearly one in five owners spend more on their pets than their partners at Christmas.
Home alone
Leaving our pets home alone during the holidays is a major source of guilt for Brits: Mintel found 38% of pet-owners feel a sense of remorse about doing so.[7]
This figure is even higher among women (45%) than men (31%) and is a likely driving force behind the 49% of owners who would be willing to buy a webcam and/or app to keep an eye on their pet while they’re not home.
Wearable tech is also of interest for owners. More than half (51%) said they would consider buying an activity monitor to track their pet’s exercise and wellbeing.
Finally, ethical brands can gain a competitive advantage. Over a quarter (27%) of owners gave a rescue animal a forever home, 25% donate to animal charities, and 22% prefer to buy brands that also support animal welfare causes.
How promotions can help
With the cost of living running high, there are plenty of ways to offer additional value to customers when they choose your brand for pet food or pet care.
Loyalty schemes
MRM worked with Petplan to create a B2B loyalty programme, which rewarded 63,000 breeders and 6,000 vets when they promoted Petplan insurance to their customers.
This included an online loyalty platform with 24/7 live reporting, database management and customer service, as well as sourcing and fulfilment of over 120 physical rewards and thousands of vet items.
It’s an excellent example of how campaigns can extend through a B2B supply chain, to increase recommendations and referrals at the B2C end of the chain.
Personalised packaging
In another campaign, MRM collaborated with Butchers Pet Care to offer 2,000 customers a personalised can of dog food to give to their pet for Christmas.
We fulfilled the label printing and also sourced Pantone-matched branded can lids for customers to keep and reuse. Each customer also received a coupon, encouraging future purchases of Butchers dog food.
Personalised packaging is a great way to add value to products – as we recently reported, the global market for customised packaging is set to pass $60 billion by 2033.
Find out more
MRM’s team is always happy to talk about our case studies, our multi-channel marketing services, and our logistics and fulfilment capabilities for campaigns involving physical goods.
To learn more about how MRM can promote your pet care brand to a growing market of highly engaged consumers, contact us today.
[1] https://store.mintel.com/report/uk-pet-food-and-pet-care-retailing-market-report
[2] https://store.mintel.com/report/uk-pet-food-and-pet-care-retailing-market-report
[4] https://www.ukpetfood.org/information-centre/statistics/market-data.html
[6] https://www.petplan.co.uk/pet-information/blog/christmas-gifts-for-pets/
References
https://www.petplan.co.uk/pet-information/blog/christmas-gifts-for-pets/
https://www.ukpetfood.org/information-centre/statistics/market-data.html
https://store.mintel.com/report/uk-pet-food-and-pet-care-retailing-market-report
https://mrm.co.uk/case-study-butchers/