According to a recent U.S. study, Economy and Pet Care, from Brakke Consulting, the pet care industry is not completely recession proof.
The study, which surveyed 1,500 dog and cat owners and 225 companion animal veterinarians, found many pet owners are cutting back on purchases of pet products and services, impacting retail and veterinarian sectors.
According to the research, 46% of pet owners indicated their financial situation was worse in 2008 than in 2007. More than one fourth—27%—said the employment status of the main household wage earner declined during the past year. The impact was worse in the Midwest region of the U.S. than in other parts of the country and among families with annual household incomes under $50,000.
Services such as boarding, grooming and veterinary care took the biggest hits, according to the research. Average transaction charge barely will have grown in 2008, according to study results. For copies of the complete report, contact John Volk at firstname.lastname@example.org.