Figure Out Yearly Pet Cost with this Handy Infographic
Michael Hemsworth — December 19, 2012 — Lifestyle
References: moneynowusa & visual.ly
Owning a dog or cat can be expensive and this pet cost infographic will let you know just how much you can expect to pay out each year. Starting off with the more lighthearted costs, pet birthdays are celebrated by 36% of dog owners and 20% of cat owners, while about 60% of cat and dog owners will give their furry friend a gift at Christmas.
Next up, we have the more serious costs like illnesses with dogs costing about $236 and cats roughly $160 a year in vet bills. Each vet visit costs an average of $160 and only about 52% of pet owners will take their pets to see the doctor during an illness. What’s worse is that about one third of pet owners can’t afford to take their furry friend to the vet when it’s necessary.
Next up, we have the more serious costs like illnesses with dogs costing about $236 and cats roughly $160 a year in vet bills. Each vet visit costs an average of $160 and only about 52% of pet owners will take their pets to see the doctor during an illness. What’s worse is that about one third of pet owners can’t afford to take their furry friend to the vet when it’s necessary.
Trend Themes
1. Rising Pet Ownership Costs - The increasing costs associated with owning pets, including vet bills and special occasions, create opportunities for disruptive innovation in pet care services and affordable pet healthcare options.
2. Growing Market for Pet Celebrations - The trend of pet owners celebrating their furry friends' birthdays and holidays like Christmas presents opportunities for innovative pet gift and celebration products and services.
3. Financial Accessibility in Pet Healthcare - The significant number of pet owners unable to afford necessary vet visits presents a disruptive innovation opportunity in developing affordable and accessible pet healthcare solutions.
Industry Implications
1. Pet Care Services - The rising pet ownership costs and growing market for pet celebrations offer opportunities for businesses in the pet care industry to provide innovative and personalized services and products.
2. Pet Gift and Celebration Products - The trend of pet owners celebrating special occasions presents a potential market for businesses specializing in creating unique and thoughtful pet gift and celebration products.
3. Pet Healthcare Solutions - The need for more accessible and affordable pet healthcare services creates opportunities for disruptive innovation in the pet healthcare industry, focusing on developing cost-effective solutions for pet owners.
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