Pet owners prioritize spending on pets despite inflation

Despite inflation, pet owners in the US are willing to spend the same or more on their pets as they do on their children, with food and healthcare topping the list of expenses. Growth in premium spending has outpaced traditional mainstream dog food since 2019. Pet owners are willing to cut spending on themselves to ensure their pets enjoy the same quality of life. The pandemic has heightened the desire for pets, with almost 50% of new dog owners saying their decision was influenced by it. Americans see their pets as the "ultimate return on investment."