Petonomics:
Getting more value from pet parenthood.
Getting the best value when caring for your pet
We do everything we can to give our pets the best life and involve them as a family member. But as we watch them leap from milestone to milestone, it's easy to lose sight of how much we're spending along the way.
If you're not across your fur baby's financials, you're not alone. New research from Pet-Pulse - the biggest analysis of pet data in Australia, including over 250k dogs and 90k cats registered with Greencross Vets and millions of Petbarn transactions - reveals that only a third of Aussies know how much they're spending on their pet each year.
Pet accounting can be tricky. Some pets cost more than others. Factors like pet type, breed and age all contribute to a pet's annual care costs.
So, if you're considering a new family pet, it helps to understand the associated costs - and if you're raising a pet, it's important to account for your pet's needs throughout their life.
The more we can anticipate our pet's potential care expenses, the more we can plan for better value care- and a better quality of life. Small steps can add big value!
Mind the pet spend gap!
When it comes to caring for our dogs and cats, pet parents should be mindful that no two pets cost the same. Breed, age and lifestyle are factors that play a big role in determining how significant the spend gap will be, and should be taken into consideration when anticipating the financial costs of owning a pet.
The variation in costs of looking after a pet can be significant. So, what's behind the difference in bills between Catie's Cavoodle and Ryan's Ragdoll?
Knowing what these factors mean for your pet is the key to managing their physical wellbeing, and your financial wellbeing too.
The Breed Bill Multiplier
Your pet's breed can influence medical expenses today and, in the future, especially with dogs.
In 2021, a typical King Charles Cavalier owner spent 27% more than the average on vet bills. Compare that to a Chihuahua owner who spent 17% less. That's a whopping gap of 44%.
On the feline side, a Burmese and a Ragdoll stretch the furthest apart financially. A Burmese costs, on average, 53% more in yearly vet visits in comparison.
So why does breed have such a big impact on the cost of care? Unfortunately, some breeds are more predisposed to congenital, hereditary and developmental conditions, which can require greater care.
"As affectionate as they are, King Charles Cavaliers can be prone to several health issues including heart valve disease and neurological disease, as well as cataracts and retinal problems"
Dr Magdoline Awad, Chief Veterinary Officer, Greencross Vets
If you have, or are considering, parenting any dog or cat, it's important to be aware of the potential health issues they may have at birth or down the road.
The Breed Bill Multiplier
Your pet's breed can influence medical expenses today and, in the future, especially with dogs.
In 2021, a typical King Charles Cavalier owner spent 27% more than the average on vet bills. Compare that to a Chihuahua owner who spent 17% less. That's a whopping gap of 44%.
On the feline side, a Burmese and a Ragdoll stretch the furthest apart financially. A Burmese costs, on average, 53% more in yearly vet visits in comparison.
So why does breed have such a big impact on the cost of care? Unfortunately, some breeds are more predisposed to congenital, hereditary and developmental conditions, which can require greater care.
"As affectionate as they are, King Charles Cavaliers can be prone to several health issues including heart valve disease and neurological disease, as well as cataracts and retinal problems"
Dr Magdoline Awad, Chief Veterinary Officer, Greencross Vets
If you have, or are considering, parenting any dog or cat, it's important to be aware of the potential health issues they may have at birth or down the road.
Closing the gap:
Prevent. Protect. Plan.
Taking a long-term view of your pet care needs can stabilise your finances- and your pet's wellbeing. Planning for their future starts from day one of puppyhood or kittenhood. There's a whole world of disease prevention and financial measures to help pet parents prepare for the future.
It can be overwhelming to know where to start, but the three P's of pet care can make securing a positive physical and financial outlook a lot more manageable. It's all about prevention, protection and planning ahead!
1. Prevent health conditions
Preventative care is hugely important for cats and dogs. Biannual vet visits help identify problems early when they are easier and potentially less expensive to treat, or prevent them entirely. Plus, if you're a Healthy Pets Plus member, your regular consultations and routine vaccinations are covered by your membership.
Vaccines will boost your bank account too
Vaccination is crucial for our pets' wellbeing, yet only 55% of cats and 61% of dogs are receiving their routine vaccines. Viruses and bacteria can be incredibly infectious, serious and, in some cases, fatal. Prevention is better than treatment so ensure your pet is up to date with their vaccines.
Dental care: there's more at stake than their pearly whites
You have a daily dental routine, but did you know your pet needs one too?
Our pet's teeth are just as important to keep clean and healthy as ours, but very few pet owners brush their dog's teeth daily.
"Dental issues tend to get worse with time, and the longer one waits, complications can extend far beyond foul breath. Just like humans, dental health in pets is painful and debilitating. In serious cases, it can even contribute to systemic conditions including heart and kidney disease."
Dr Magdoline Awad, Chief Veterinary Officer, Greencross Vets
An at-home dental routine goes a long way. Daily brushing, certain oral care treats, water additives, dental chew toys and vet prescribed diets are all effective means of promoting dental hygiene. Regular trips your Greencross Vets and a tailored preventative dental care plan are the best way to maintain your pet's long term dental health.
Dental care essentials
Fleas, ticks, intestinal worms and
heartworm- Oh my! Don't let parasites feed
on your finances
These pesky critters can be extremely harmful, and in advanced cases, fatal for our pets. Despite this, many pet parents are inconsistent with giving their pets preventative treatments, tablets or chews.
Protecting our pets routinely from pests helps avoid the cost of treating heartworm or tick paralysis. These conditions are serious and treatment can be complex and not without risk, so prevention is always best.
"Tick prevention can cost as little as $18-$30 a month*, but can jump to thousands of dollars to treat, depending on how severe the disease has progressed."
Dr Magdoline Awad, Chief Veterinary Officer, Greencross Vets
There are a range of over the counter flea, tick and worm treatments available at Petbarn, which can help keep parasites at bay. Consult your vet for the right parasite preventatives for your pet and your situation.
*Based on a 10kg medium size dog who is treated monthly.
We are what we eat (And so are they)
Diet makes a world of difference. Just like in humans, introducing more nutritious food options into your pet's diet has many benefits.
Premium foods not only contain higher quality ingredients, but as they're often more nutrient dense, your dog will achieve their required daily calories with a smaller serving size compared to non-premium food. Meaning you'll get more meals out of each bag. By taking this cost per feed into account, you may find that the overall cost of feeding your dog has only increased slightly, and the health benefits of premium food more than make up for this.
The health benefits of premium food are plentiful. Higher levels of omega-3 fatty acids contribute to richer hair and coat quality, and antioxidants support their immune system. Premium foods are also tailored for your pet's life-stage, ensuring necessary levels of dietary components such as protein.
"Our data shows that our clients are prepared to spend more on food and products that are healthy and improve their pets' quality of life"
Dr Magdoline Awad, Chief Veterinary Officer, Greencross Vets
2. Protect your pet
(and your finances)
from the unexpected
While we do our best to keep our pets healthy, we can never eradicate the possibility of accidents or illnesses arising. Taking steps to plan for unexpected vet bills is equally as important as maintaining your pet's health.
Be an early bird to pet insurance
Pet insurance policies can assist pet owners when the unexpected happens, with policies that cover a wide range of scenarios, from accidents and injury, to illness, broken bones and more. The average pet insurance policy costs $58 per month, depending on the pet's age and breed, but premiums do go up as pets age.
If you've taken out pet insurance since puppyhood, you would have spent an estimated $5,600 by the time your dog is 8. Compare that to the average cost of an orthopaedic procedure or a hip replacement in Australia at $8,500, and the value of coverage becomes apparent.2
Emergency funds can rescue you (both)
Setting up a savings account for the unexpected is a smart move for all pet parents. Even if you have pet insurance, some pre-existing conditions, dental care and complicated diagnostic tests may not be covered under all policies.
"Insurance policies may not cover all of your pet's needs. It's wise to put money away for routine preventive care and any out of pocket expenses to complement your insurance."
Dr Magdoline Awad, Chief Veterinary Officer, Greencross Vets
3. Plan for the future
Give your pet's retirement
the 'super' treatment
Just like us, we want our pets to feel comfortable as they hit their senior years. That's why it pays to have a superannuation mindset to your pet's future. Call it a 'Puper'- a plan for financing the best possible retirement for your fur baby. Budgeting for increased vet expenses is a key component of planning their 'Puper'. But it's also worth considering the cost of additional creature comforts in your pets' senior years.
Just like us, pets spend more time resting in their older age. Setting them up with an orthopaedic dog bed with memory foam can assist achy joints. Adding supplements into their diet can also support their needs, like joint health chews and senior support chews that may help brain function.
An ageing pup'ulation
Taking a long-term view of your pet's expenses has never been more important. Our pets are living longer than ever before. A dogs' average lifespan has increased over the last decade by 0.5 years- the canine equivalent of 3.5 human years.
Cats have experienced an even greater leap in longevity- adding 6 more years to their average lifespan since 1995. 3
There are oodles of factors behind our ageing pup'ulation. One key driver has been medical advancements which help prevent disease and keep pets healthier. But the humanisation of pets has also played an important part, with 71% of pet owners now agreeing with the statement "My pet is like my baby". 4
Our ever-growing love for our fur-babies has improved their care across board. Pet owners are now being more responsible for their pets' wellbeing and are willing to invest in life extending solutions like improved diet, treatment plans for health issues and animal health insurance.
As we look forward to more golden years together, it's important to prepare for the challenges that come with pet ageing too, like loss of mobility and an increased risk of chronic disease. Just as we would with any family member.
Shop smart to maximise value. And enjoyment.
Life's a balance. As important as it is to plan for our pet's future, it's nice to remember to enjoy the present too. Toys, turtlenecks and puppuccinos included!
Shopping a little savvier for your pet means you can easily find that extra $10 a week to put towards safeguards like pet insurance and preventative health care- while still enjoying life's biggest treats.
Save big with bulk buys
Next to vet care, food is the most significant pet expense throughout their life. Buying large-size bags of dog food at Petbarn could save pet parents up to $260 per year for a medium sized dog and up to $650 per year for a large dog. That's a lot of treats!
On top of bulk savings, pet parents who join our free Friends For Life program could enjoy up to 20% off selected dog and cat food with Frequent Feeder when shopping instore. Meanwhile, members also earn points towards loyalty vouchers on every purchase.
Do more Doggie D.I.Y! (D.D.I.Y)
There's nothing like a trip to the groomers. Maintaining that salon fresh coat from home can help preserve your pet's good hair days- and your budget.
Regularly brushing, conditioning and detangling your pet's hair can also prevent matting- and ensure you don't need a more costly groom in the future.
And if you're not eager to turn your home into a pet salon, dog washing stations are a great and cost-effective way to keep your pet looking (and smelling) fresh.
Compare. Compare. Compare. And save.
When shopping for treats, or big-ticket items like beds it's worth comparing prices across the board. At Petbarn, if you find a lower price elsewhere on an identical product that's in stock, we'll match it. That's our Price Match Promise to you. Details here.
Be sure to have an eye out for great seasonal deals too. When it comes to saving, nothing saves like a sale!
Pamper like a professional
All information/statistics is sourced stated in Pet Pulse have been sourced from data across the Petbarn and Greencross network unless stated otherwise. 1 Keogh, M. The Burrow. 2022. Retrieved 19 October 2022. 2 Keimling, K. Bow Wow Meow Pet Insurance. 2020. Retrieved 19 October 2022. 3 Wikipedia. Aging in cats. Retrieved 19 October 2022. 4 Animal Medicines Australia. Pets and the pandemic: A social research snapshot of pets and people in the COVID-19 era. 2021.
