Slightly more than half, 53 percent, of the people we spoke with are involved in animal-related causes through fundraising, volunteering or other types of support. In fact, about half of that group and 27 percent of all survey respondents are involved in charitable causes specific to their type or breed of pet, such as being an active member of the Cavalier King Charles Spaniel rescue society. For these devotees, their interest in and love for their pet is tied to a broader agenda. The remaining 47 percent of the respondents were singularly focused on their own pets, rather than animals in general (Exhibit 1).

Our study showed that owners spend a significant amount on their animals. The average respondent spent more than $250,000 on household pets in the 12 months leading up to the survey. (Our research excluded full-size horses.) While this figure seems high, we found even more pronounced sums when we segmented our research by the type of pet owner. Pet-focused individuals reported mean spending of $328,000 and median spending of $72,000 per year, considerably more than animal-focused owners spent (Exhibit 2).

Affluent owners spend the most on life-enrichment services, a broad area that includes everything from massage and psychic readings to life coaching and cosmic-sensitivity sessions (Exhibit 3). Our pet-focused group is twice as likely to procure these services as animal-focused individuals.

The second-most-lucrative category proved to be specialized diets, which roughly one-third of respondents provide for their pets. Interestingly, these diets do not serve veterinary purposes such as weight loss; they seem to be a lifestyle choice. Many respondents cited organic food as a staple, while others employ nutritionists to create meal plans and chefs to prepare food for their pets. Again, more than twice the number of pet-focused individuals spend money on special diets than their animal-loving counterparts.

Roughly 17 percent of pets—most belonging to the pet-focused owners—boast wardrobes worth $25,000 or more. These ensembles consist of designer carry bags, coats and sweaters, boots and jeweled collars. Approximately one pet in 10 has enjoyed a birthday celebration with a cost exceeding $25,000; those that did usually celebrated with other four-legged pals, rather than the human variety.



About one in 10 pet owners have, at one time or another, taken their pet to psychological counseling. Psychology has become a popular means of helping animals and their owners tackle behavioral issues. This therapy is, of course, undertaken with other goals in mind; most owners want to help their pets be happier or deal with a traumatic experience such as an accident or the death of another pet.

A tiny percentage of pets have traveled via private jet, but this category probably involves more real dollars than any other. The small group that has transported an animal alone on a plane cites it as a quick way to reunite with an animal.

All respondents had already taken steps to provide for their pets in the event of their own death (Exhibit 4). About half of all pet owners had completed formal arrangements, such as writing instructions into a will, including nearly 60 percent of the pet-focused crowd. About one-quarter of owners had made informal deals, such as planning with family and friends. A similar number of people say they have both formal and informal provisions to secure long-term care for their pets.

Pet owners are increasingly turning to trust vehicles for their critters (Exhibit 5). Of the 48 percent of respondents who had made formal post-death arrangements, some 19 percent had already established a trust to care for their pet. Not surprisingly, about three times as many pet-focused owners had done so versus animal-focused owners.

Pet owners, however, seemed more concerned with making certain that the caregivers will have ample means to look after their pets. The approximately two-thirds who have formal arrangements attached assets to their pet’s care, with nearly 80 percent of the pet-focused segment and more than half of the animal-focused group doing so (Exhibit 6).

The amount of money pet owners identified was consistent with their level of spending, with an average of $410,000 earmarked for pet care in the event of the owner’s death (Exhibit 7). Pet-focused owners set aside substantially more—some $526,000 on average.

Given the amount of wealth allocated for pet care and the relatively short life span of many domesticated animals, it’s clear that many pets will die before their funds have been used entirely on their care and safekeeping. Pet owners’ directives for excess money best illustrate the biggest differences between our two segments (Exhibit 8). Almost all (98 percent) animal-focused pet owners—those with a broad interest in animal welfare—want money intended for their pet’s care to go to an animal-related charity upon their pet’s death. Conversely, most pet-focused owners choose to have the assets pass to family or friends.

We can’t argue that prosperous pet owners love their animals any more than individuals with less money, but the intensity of their emotions appears exaggerated by the way they use their wealth to care for their animals—and to prepare for their care in the future.

Russ Alan Prince is the president of Prince & Associates, a market research and consulting firm for the affluent, and the author of more than 35 books on related topics. Hannah Shaw Grove, an author and columnist, is an expert on the behavior, concerns and finances of affluent consumers.