Here’s how it works: Banks crash, automakers disappear, people stop spending money. The profits of businesses begin to decrease. People lose their jobs. Paychecks don’t show up. Dogfood is crossed off the grocery list. Pets are taken to the pound. Yep, that’s the gist of it.
When people drop off a dog or a cat at an animal shelter, they are asked to state the reason why. Pennsylvania animal shelters are seeing an increase in "surrendered by owner — can’t afford," a reason that hasn’t been used in the past. People who have owned pets for years are finding themselves in a position where they can’t take care of their four-legged friends. I’m not a pet owner, but this makes me sad.
Recession-Affected Pets
Owners Surrendering their Pets Due to Economy
Trend Themes
1. Pet Surrender - Opportunity to develop innovative solutions to provide financial assistance to pet owners facing economic hardships.
2. Animal Shelter Increase - Opportunity to create disruptive technologies or services that improve the operations and resources available at animal shelters.
3. Financial Assistance for Pets - Opportunity to develop new models of financial support specifically aimed at helping pet owners during recessions.
Industry Implications
1. Financial Services - Potential for financial institutions to offer specialized pet care financial assistance or pet insurance products.
2. Technology - Opportunity for tech companies to develop platforms or apps that connect pet owners in need of assistance with resources or donations.
3. Non-profit Organizations - Opportunity for non-profit organizations or charities to create programs that provide temporary pet care or financial assistance to pet owners in need.