Americans love their pets. Some
pets, of course, have it better than others. To learn about the pet-care habits
of highly successful households, we interviewed 304 affluent individuals with at
least one pet between 2004 and 2006. Dogs proved the most popular pet, followed
closely by cats. Birds were a distant third and the "other" category included
everything from reptiles to miniature horses. All of the survey respondents
considered their pet to be a member of the family—and took their family
commitments very seriously.
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.
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