FOR IMMEDIATE RELEASE
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Despite Tough Economic Climate Americans Remain Loyal to Their Pets
- American pet ownership and pet-related spending are holding strong during the rigors of the current economic climate, according to a survey conducted by the American Pet Products Association (APPA)-
(Greenwich, CT—December 08, 2009)— In August 2009, the American Pet Products Association (APPA) asked nearly 21,000 pet owners nation-wide if the current economy has influenced their pet ownership in any way. The results are clearly indicative of a nation that loves their pets; one which will stop at almost nothing to keep their faithful companions happy and healthy.
The study revealed that:
• The current economic situation has had little negative impact on their decision to own a pet, according to 70% of America’s pet owners.
• In fact, more than 80% of pet owners report that they have not changed their spending patterns and continue to spend the same on their pet during these times.
• Even 62% of horse owners, one of the most costly pets to maintain, report that the economy has not influenced their pet ownership. In fact, 5% of horse owners reported spending more on their pet during this same time.
• Interestingly, even those households with income levels under $25K and between $25-$50K report that to a large degree, 57% and 67% respectively, their ownership levels have remained unchanged despite the economy.
While the pet sector enjoyed a steady stream of spending, American pet owners compensated, by reduced spending on other household and leisure items. Across the board, there was a reported decline in spending on activities including movies, plays, museums, sporting events, travel, dining and even shopping. These findings suggest that Americans will readily perform an act of self-sacrifice and reallocate their dollars to maintain the quality of life for their pet.
“This information further demonstrates that pet owners will continue to cut back in their personal lives before scaling back on their four-legged friends,” said APPA President, Bob Vetere. “This goes to show the strength of the human – animal bond and the joys that can be realized through responsible pet ownership. This is the primary reason that the pet industry continues to remain strong.”
It’s a fact: even in the toughest of times, pet ownership is on the rise as Americans continue their love affair with their pets. In good times and in bad, Americans turn to their pets for support, consolation, love, stress relief and mood-therapy. After all, who needs a prescription anti-depressant when your pet is standing at the ready to warm your heart and generate a smile?
The American Pet Products Association (APPA) is the leading not-for-profit trade association serving the interests of the pet products industry since 1958. APPA membership includes nearly1,000 pet product manufacturers, their representatives, importers and livestock suppliers representing both large corporations and growing business enterprises. APPA's mission is to promote, develop and advance pet ownership and the pet product industry and to provide the services necessary to help its members prosper. Visit www.americanpetproducts.org for more information.
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