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 143%

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.

1.2X as many New Dog Owners as Cat Owners

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

Consumers spent 3X 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 .

Our furry, feathery & scaly friends are keeping pandemic blues at bay 

In the US, the overall average consumer spend for pet products increased by 143%. This increase follows a spike in the number of new pet owners during COVID. When it came to selecting a species, dogs and puppies were the go-to choices for consumers who became new pet owners during COVID. When we looked into the SKU-level data on our receipts, we found that among new pet owners there were approximately 1.2 times as many dog parents as cat parents.

A healthy pet keeps unexpected bills away ✨

COVID has definitely reshaped the economy in challenging ways. However, this has not deterred consumers from taking on additional expenses, especially when it relates to the well-being of their furry companions. The normal pet food category saw an increase of 100% in the specialty diet pet food category, which comprises weight-control food, hairball-control food, etc, saw an increase of 450%, while the pet grooming supplies category saw an increase of 185% during the pandemic. After all, a healthy pet helps to keep unexpected medical bills away.

Pets and their owners became nutrition-focused

With more time at home, consumers not only continued to focus on balancing food & nutrition for their pets but also 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, so too did consumer spending on vegetables & fruits.

Read the Canadian Edition.

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