The Barcode Report delivers the world’s deepest and most relevant insights on everyday consumer spending. We break down spend data into digestible and actionable facts, highlighting key trends that go beyond what you’d learn from simple card statements. We leverage item-level receipt data accumulated from millions of users across our network of banks, credit unions and technology partners. The Barcode dives beneath the surface of “how much was spent and where” and provides a true look at what consumers and small businesses are spending their money on.

In this report, we’re focusing on consumer spending insights from pet-related spend, including pet adoption.

Key Highlights & Takeaways

Overall consumer spend in pets category increased by 117% during COVID

With the social isolation that comes with COVID restrictions, more and more people have turned to pets. Be it getting a new pet or pampering their existing pets, overall consumer spend in pet products has seen a sharp increase.

2X more new Cat owners as Dog owners during COVID

While there has been a general increase in demand for all species of pets, cats were the most popular choice of pets among first time pet owners during COVID.

Consumers spent 10X more on special diet pet food than on pet grooming supplies 

If COVID has taught us one thing, it is that maintaining a healthy lifestyle helps to keep unexpected medical expenses at bay.  To that extent, pet owners were not discouraged from spending more on specific diet food such as weight control food, etc to maintain optimum health for their furry companions .

Consumers in Canada were looking for a COVID companion

In Canada, the overall average consumer spend for pet products increased by 117%. This increase follows a spike in the number of new pet owners during COVID. When it came to selecting a particular species of animal as companions, cats and kittens were the go-to choices. When we looked into the SKU-level data from end-user receipts, we found that among new pet owners there were approximately 1.2 times as many dog parents as cat parents. First-time pet owners adopted more cats than dogs 🐱

Owners became just as conscious about their wellbeing as their pets’ 

With more time at home, consumers are focusing on balancing food & nutrition and self-care, not just for their pets, but also for themselves. When we looked at the SKU-level data from end-user receipts, we found that as consumer spending on specialty diet pet food increased during COVID, so too did the consumer spending on vegetables & fruits and personal grooming supplies.

Read the US Edition.

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