Pet Spending Will Hit New Highs in 2020

| January 02, 2020
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The last decade seemed to be a whirlwind for pet owners. The number of products and sales revolving around pets nearly took over wallstreet.

I must admit that I caved to the smorgasbord of options and gadgets designed to keep my dogs busy and entertained. Mostly, it was to keep me entertained. Frankly, they preferred the packaging to what was inside and an empty milk carton was more than adequate. However, having milk cartons and empty packaging strategically placed near my furnishing might have sparked questionable hoarding, so I opted for colorful, fuzzy squeaky play toys.   

I know I am not alone in my spending. According to the U.S Pet Industry expenditures from 1994-2019, Pet industry expenditure in the United States was estimated to reach approximately 75.38 billion U.S. dollars in 2019. U.S. consumer expenditure has gradually increased year-on-year, growing by around 450 percent since 1994. The increase in the household penetration rate for pet-ownership in the U.S. could partly explain the rise in pet industry expenditure. In 2017, some 68 percent of American households owned one or more pets, in comparison to a 56 percent pet-ownership rate in 1988. Published by Emma Bedford, Aug 9, 2019.

With all of this spending, it got me wondering how much people are spending on Pet Insurance? That seems to me to be more valuable than all the cute sweaters and bling any one dog or cat can own.  

Here are just a few reasons to buy Pet Insurance:

  1. Foreign Body Ingestion. Dogs will try to eat anything – rocks, broken glass, socks, shoes
  2. Being Hit by a Car. Trauma can range from minor to fatal, and many injuries can be hidden. 
  3. Dog Bites. When larger dogs fight, wounds are usually obvious: skin lacerations, bleeding wounds
  4. Many plants, human medications, household chemicals and even common foods can make dogs sick
  5. Cats ingest string, rubber bands, buttons
  6. Cats do not have 9 lives. Cats can fall off ledges and break bones

How much will you spend on your pets in 2020? Consider Pet Insurance as a top priority for your furry family member.

Call me today at 847-866-7400 to get a quote!

 

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