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February 20, 2023

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Joe

Almost like clockwork, when I make a new post, something that is related pops into my view. From the Friday WSJ:

Not even the family cats and dogs are immune from inflation-driven cutbacks.

With the cost of pet food up 15% year-over-year and pets and pet products up 12%, according to the January consumer-price index, owners are making changes. Pet toy purchases are down 16% year-over-year as of February, according to a Jefferies Group analysis of NielsenIQ data, and sales of pet housing are down 21%.

People often treat their pets like children. But elevated inflation means many are struggling to afford taking care of themselves and their kids. Pet owners are now getting rid of Buddy’s raw-food diet and Bella’s monthly treat and toy subscription box. They are also baking their own treats and driving hours for less-expensive vet care.

Roughly half of the 1,000 pet owners surveyed by consumer-insights platform Zappi for The Wall Street Journal this month actively took steps to reduce pet-care costs in the past year. A little over a quarter skipped or delayed a pet’s vet visit or routine medication on purpose to save money, and 49% opted for at-home grooming instead of paying a professional. One-tenth gave a pet away due to rising costs.
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That last sentence is heart-breaking............

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