Posted by Roxanne Hawn | Posted in Dog Life, Dog Musings, Hot News | Posted on 02-03-2010
Tags: Great Recession, pet, pet spending, pets, veterinary care
I get all kinds of interesting alerts via email. This includes tidbits from something called Packaged Facts. Today’s missive touts a 5% or $2.5 BILLION increase in pet-related spending in 2009 — despite the recession. Those outside the dog world might be surprised by the data (which is used to promote a whole, big report on the pet market), but I am not. It’s really quite simple.
For people like me, our dogs are NOT discretionary.
I have cut back on a few things for them (fewer toys, fewer dog training classes), but their basic needs — food, veterinary care, medicines and such are not optional for me.
It’s funny, though, that blurb I got refers to the recession-resistance of the pet market. Why? Because it’s something talked about all the time in the veterinary marketplace, including when I wrote about the recession’s impact on veterinary medicine last year.
You see, in a market where booms result in 15-20% increases … a 5% increase feels like a HUGE hit.
I’d simply say that it’s a good thing veterinarians are not in the real estate biz.
Yes, spring shot time is approaching for the horses and I think they need dental care this year too. Ouch!
I have read that being a vet or vet tech is a good career move, that the demand for services is steadily increasing.
That’s probably true, but techs/assistants don’t make very much money at most practices.