GAITHERSBURG, MD. — In recognition of National Pet Wellness Month this October, RestoraPet shared findings from a recent survey that indicate more than 60% of pet owners are willing to pay as much for pet wellness products as they are for their own health.
Further, 90% of survey respondents said they are willing to spend $100 or more on their pets each month. Fifty-five percent of respondents said they would spend “whatever it takes” to keep their pet happy and healthy, and 43% reported spending more on their pets since the COVID-19 pandemic began.
Nearly 25% of respondents went on to say they would be willing to trade at least two dinners out, eight beers at a bar or 13 cups of coffee from their favorite café in order to save money to spend on their pets’ health.
“It’s no question that our pets are family and their well-being should be top of mind, considering they age faster than we do,” said Brian Larsen, chief executive officer of RestoraPet. “Since October is National Pet Wellness Month, our team connected with hundreds of pet owners across the country to find out what dollar value we would place on our pets’ wellness. Needless to say, I was moved by the results as pet owners placed equal value on their pet’s health as their own, further demonstrating the need for products like ours to ensure an improved quality of life for pets around the world.”
According to the survey, 47% of pet owners purchase holistic health supplements for their pets. The market for dog and cat supplements is rich, with several emerging products and brands entering the supplemental nutrition space so far this year.
Additionally, the survey revealed 70% of pet owners consider veterinary professionals as the most important source of pet health product recommendations, followed by 17% from friends and family members. Less than 5% of pet owners consider social media influencers or Facebook advertisements to be an important source of information on pet health products.
The survey was fielded by Suzy, an enterprise software platform for consumer research and insights, and included more than 500 US pet owners ages 16 to 73.
RestoraPet offers a line of organic pet supplements targeting mobility and pain reduction, skin and coat health, appetite, activity level, and other health areas.
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