""The amount that we spend on Frankie, you could probably buy a Hyundai, or finance one at least.""
""People in a down economy, they may not be taking their pet to the vet quite as often as they need to, but they also still know the main things that they need to do - those maintenance therapies - and they're still doing that.""
""Pet-care costs have been rising faster than overall inflation. The consumer price index for all urban consumers increased 2.4% in February from a year earlier, while pet services - including veterinary care - jumped 5.1%.""
Pet ownership is becoming increasingly expensive, leading some owners to postpone veterinary visits or reconsider adopting pets. Despite this, the bond between pets and owners drives spending on urgent care. Companies in animal health and diagnostics are benefiting from this trend, as pet-care costs rise faster than inflation. Although total vet visits have declined for 16 consecutive quarters, owners continue to prioritize essential maintenance therapies. The financial commitment to pets remains strong, even in challenging economic times.
Read at Fortune
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