Tuesday, June 19, 2012

Pet statistic that surprised me

I'm a shareholder of online Pet pharmacy PetMed Express PETS. I was reading their annual report and came upon this statistic for the United States which surprised me a bit: "The dog and cat population is approximately 165 million, with approximately 62% of all households owning a pet."

I found the 62% figure to be high. I don't have pets right now so I guess I tend to think that the majority of people are like me and don't have pets - but I'd be wrong. I guess I'm in the 38% minority that doesn't have pets.

Some more info on spending on pets: "According to the American Pet Products Manufacturers Association, pet spending in the United States increased 5.3% to $51.0 billion in 2011. Pet supplies and medications represented $11.8 billion, or 23% of the
total spending on pets in the United States.."

If you do the math on that it works out to $11.8 B / 165 M = approximately $71.50 in average spending on each animals pet supplies and medications annually.

In total spending on pets it works out to $51.0 B / 165 M = $309 annual spending on each pet.

These annual spend figures really are pretty low and don't surprise me alot.

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