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The rise is real, read the ‘stats’, visit your local cafe or venture to the park and you are most likely to be greeted by a pet lover, a pet parent, with pooch in toe, on a lead, taking their daily walk! Aren’t they adorable! 

It’s true, pets are taking over our hearts, purses and wallets. 

But why this rise in popularity! 

And what does that mean for Pet Businesses, the Industry? 

• Why this rise in Popularity? 

One in five families acquired a cat or dog during the pandemic to support family wellbeing. The benefits were described by parents as pets provided companionship, routine and a welcome distraction with families having more time at home. 

Animals, pets, now command a more central place in our emotional lives. With less people directly involved with farming, it's more common to value animals primarily as companions, even as family members. Pew Research reports that 97% of pet owners see their pets as members of the family.18 Nov 2023 

With an aging population, pet companionship for the elderly to combat loneliness has increased. Pets, cats, dogs, and birds have been shown to improve mood, particularly in those with depression and anxiety.   

There are also specialist trained ‘care’ assistance animals, particularly dogs that are matched with the vulnerable in the community. It is widely reported that this connection offers tangible support, happiness and the joy of unconditional love. 

Working dogs make up another sector valued by their handlers, trainers and the wider community for their contribution, ‘search, sniffer and rescuer dogs to name a few roles. 

Social media has played a huge part in the rise of popularity. The impact of Pet influencers featuring cute cats and entertaining dogs, along with viral pet videos, and on Instagram famous pets have amassed huge followings.  

• Pet population profile 

According to a national pet population survey Australia is home to approximately 28.7 million pets, amongst 6.9 million households. 

Dogs are the most popular pet (6.4 million, with half of Australian households having at least one. Cats come in second favourite with a population of 5.3 million.  

It follows that there has been a rise in demand for Pet-related goods, products and services. 

• Pet Owners – show us your money! 

There was a surge in total transaction value for pet purchases in Australia between February 2020 to February 2023 according to stats released by ‘buy now pay later’ options. 

Pet parents' expenditure rose to an estimated A$33.2 billion in 2022 covering food supplies, veterinary services, pet products and accessories and pet healthcare products. Add to the ‘bill’ the costs of behaviour training, clipping & grooming, pet insurance, and therapy services. 

What does this mean for Business?  

This increase in demand has led to higher prices for pets and challenges for pet breeders and suppliers. 

With this demand comes a greater need for tailored pet specific information. 

Pet owners want the best for their new family members, which includes accessing a range of products, goods and services to make them happy and healthy. 

The Industry itself is evolving to respond to pet owners' preferences with more focus on pet health and wellness, customized and eco-friendly products and luxury care services. 

Are you one of the many businesses responding to and catering for this demand? 

Importantly, it’s about ensuring you are up-to date with customer needs and wants to make happy people and pets! 

Yes, it is a vast array of goods, services and enterprises that make up what is today’s Pet Industry.  

• Pet Supply stores, (foods, toys, clothing, bedding) 

• Vets, & Pet Healthcare services 

• Insurance Providers,  

• Kennels, and Breeders,  

• Pet –Sitters, Holiday Pet friendly Stays 

• Grooming 

And add more, including, 

• Training, (domestic and specialist) 

• Photography,  

If you are part of this growing Industry while you are taking care of increased customer and pet needs, who is taking care of the health of your Business.  Are you finding yourself stretched and struggling to meet deadlines and obligations! 

Don’t miss out, act now to get your share of this growth opportunity. 

At Blackburn Accounting we understand that running a Business is challenging and complex dealing with the various tasks. Piles of paperwork, reporting, compliance, planning, bottom lines, top lines and cashflow management and don’t forget staffing.  

This is where Blackburn Accounting can help reduce the pressure. Let us take care of the figures and numbers while you look after our precious pets, all creatures great and small! We know a successful Business adopts sound best practice accounting systems. Systems and services that Blackburn Accounting provide. 

We are your family Business specialists offering a range of services which include: 

• Family Business Management – accounting, taxation, Business structures 

• Cashflow Management – Superannuation and retirement planning 

• Business Development – expansion into new markets, Business development, communication and advice. 

Contact us today, let us take care of your Business needs.