MEDIA RELEASE: September 29 2021: Lightspeed are pleased to announce the launch of the Lightspeed ‘SpotLight’ study series. These studies will cover different topical subjects, with an aim to provide a better understanding of consumer behaviours and attitudes that have without question shifted significantly given the pandemic. The changing dynamics of how we live, work and play are set to continue long into the future, ‘SpotLight’ studies will be released on a regular basis to help shed light on these changes and identify interesting shifts. Our first SpotLight focuses on how Australians are managing their pets.
Findings from Lightspeed’s SpotLight study show that Australians are investing more on their pets in lockdown. This ranged from intentions to get a new pet, to increased spending on pet food, treats and their pet’s health and well-being.
With pet industry sales forecasted to continue to grow in the coming years, part of growth will be fuelled by Australians getting more pets. Consumers were asked how likely they were to get a pet in the next 12 months, and 19% of non-current pet owners and 19% of current pet owners said this was likely. After another year of closed borders and lockdowns, this was driven by a desire for companionship, with Victorians the most likely to buy a pet in the next 12 months.
Current pet owners are also spending more on their pets. 33% of pet owners admit to spending more than usual on pet food or treats over the last three months. 21% said that they spent more on food, with the most common reason for this being that they bought more premium meals for their pet. While 24% said that they spent more on pet treats, with 35% of these pet owners doing so to ensure that their pet was happy.
Interestingly, while current pet owners are willing to spend more on their pets, only 34% of dog owners and 22% of cat owners have pet insurance. This reflects that pet owners are spending on their pets to provide them with the best and keep them happy.
Other findings from Lightspeed’s Spotlight study include:
o 21% of dog owners are likely to buy another pet in the next 12 months
o 8% of all pet owners are driven to get another pet to rescue the animal
o The proportion of existing pet owners who claimed to have increased their spending on ‘health & well-being’ or toys for their pets over the last 3 months was higher than the proportion who claimed to have spent less
o Dog owners were more likely to have increased their spending on pet treats than the average pet owner.
About the study
2,000 permission-based respondents from Lightspeed’s Panel were interviewed between 18th and 21st of September 2021.