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Spending on pets jumps, CommBank research shows

Spending on pets jumps, CommBank research shows

Commonwealth Bank data shows pet owners are spending $743m a year on their furry friends.

Love for their pets has been reflected in Australian spending habits, with Commonwealth Bank data showing that spending on furry, feathered or finned friends increased by more than 90% over the past two years.

Pet chefs, costumes, spa treatments and weekends away are just some of the ways that Aussies are pampering their pets, with spending by CommBank customers topping $743m in 2017.

Although spending at vets remained the largest expense for pet owners, spending at pet shops, and on pet food and suppliers experienced the largest growth, up $179m since 2015.

Aussie pet spending findings included:

  • Australians are making more pet purchases than ever, with transactions at pet stores totalling 4.5m in 2017, up from 2m in 2015
  • NSW pet owners spend the most on their animals, accounting for over $231m, or 31%, of the nation’s total pet spend
  • Compared with other generations, Australians aged between 51-60 years old are spending the most on their pets, accounting for 23% of the total spend in 2017
  • Under 30s are the most budget conscious pet owners, spending $104m a year, or 14%, of the total nation's spend on their pets in 2017

See how much you’re spending with the CommBank app and Spend Tracker.

References: The Commonwealth Bank Pet spending data was recorded from 2015-2017 and includes two years of pet spending. The categories monitored were pet suppliers and pet shops, veterinary, pet food, products and services.

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice.