Despite the rising cost of living, New Zealanders are increasingly forking out top dollar for their pets, with breed-specific events “skyrocketing”.
Globally, the pet care market is worth almost $300 billion and is predicted to rise to $500 billion by 2034.
Meanwhile, in New Zealand, the trend is reflected in increased spending on pet insurance, specialised food and pet events like yesterday’s Wiener Derby in Auckland.
Many Kiwis say they are going without treating themselves to provide for their pets as the cost of keeping animals grows.
The latest PD Insurance Pet Trends Survey shows 58.8% of respondents have reduced spending on luxuries, gifts and nice-to-haves for themselves.
Only 26.4% have made similar cutbacks to luxuries for their pets.
‘Skyrocketing’ pet events
The annual Official NZ Wiener Derby clearly showed how passionate Kiwis were about their four-legged family members.
The event, which began in 2016 with only 24 dachshunds competing, grew to well over 100 short-legged racers this year.
Miniature and standard dachshunds, as well as elderly dogs and groups of other breeds, took to the course.
Hundreds of spectators also filled the Rosebank Speedway on Sunday afternoon after the event outgrew its previous location and moved, with no signs of slowing down.
Long traffic queues caused significant delays, forcing kickoff back by an hour.
Boutique-style stalls lined the venue, including a doggy beauty and wellness brand and specialist pet nutrition companies.
Kin Marketing director Alice McKinley told the Herald that breed-specific events were becoming increasingly popular and already “skyrocketing” in the US.
“I’ve got an event called Wine Dogs down in Martinborough and Hawke’s Bay, and when I speak to other people in events, they’re always quite surprised that people are happy to pay $65 to come to a dog event,” McKinley said.
Earlier this month, the first New Zealand Golden Retriever Gathering took place in Taupō, where hundreds of the breed attended.
McKinley said the rise in popularity was driven by people being “sick of” the world becoming increasingly digitalised.
“They [owners] miss that connection ... and I think it’s just like being part of something.”
She said people also wanted to socialise with like-minded people who appreciate a specific breed.
McKinley said owners were also spending more time with their pets, who become like “best friends”.
She said for people who choose not to or can’t have children, a pet can fill a void they might have.
‘Booming’ industry
McKinley said other areas of the pet industry were “booming” as owners splurged on “sensible” purchases like insurance and premium food.
In particular, she said raw and real-meat diets were doing well, mirroring the high-protein trend in human food.
Meanwhile, Southern Cross Pet Insurance chief executive Anthony McPhail said he noticed pets were becoming more deeply embedded in family life than ever before.
“As is the case overseas, we’re increasingly seeing that reflected in the way people care for them,” McPhail said.
The company, which supports more than 66,000 pets across the country, had its highest annual claims cost to date following growth in the number of pets insured.
He said part of that growth reflected the broader trend of New Zealanders prioritising their pets’ health and wellbeing.
It also reflects significant advances in veterinary medicine, with some claims reaching up to $15,000.
“New Zealanders are investing more time, care and resources into helping their pets live long, healthy and happy lives, and pet insurance is increasingly becoming part of that.”