pet costs – A new Bank of America Institute analysis says higher veterinary and other pet-related costs are pushing some Americans to pull back on pet adoption and ownership—while a separate survey finds price hikes are also reshaping brand loyalty.
On a day when budgets are already tight, pet owners are feeling another kind of pressure: the cost of keeping a furry family member is climbing.
A new Bank of America Institute analysis finds that pet ownership is becoming more expensive. including costs tied to veterinary care. The report links those rising expenses to a pullback in pet adoption rates and pet ownership. suggesting affordability is playing a bigger role for animal lovers who may still want pets but can’t absorb the added strain.
The question for many households is whether they’re willing to trade down elsewhere. The report is explicit that as costs rise, some people appear to reconsider what they can afford—potentially cutting into other parts of their budgets just to keep up with pet expenses.
That same squeeze is showing up beyond the animal aisle. Strained by tighter budgets and product price increases. a growing share of shoppers say they’re changing their buying habits. including switching away from brands they used to stick with. In a survey of more than 1. 000 Americans by DOSS. 60% of shoppers said they have dropped a brand they were previously loyal to because of an uptick in price.
The break point may not be theoretical. In the same push for cheaper options, the survey asks how much of a price increase it takes for shoppers to walk away from the brands they favored—underscoring how quickly loyalty can erode when household costs rise.
There’s a separate warning sign for younger Americans. too: an additional survey finds the average college student expects to earn $80. 000 a year after graduation. Whether that expectation lines up with reality matters to affordability. because it shapes what households believe they’ll be able to spend on essentials—and extras like veterinary care and pet supplies.
The common thread through these pieces of consumer data is the same moment hitting households from multiple directions: higher prices are changing behavior. from what people buy to what they can manage. In one sphere, rising pet costs are tied to lower adoption and ownership. In another, price hikes are tied to shoppers abandoning brands they once considered non-negotiable.
For now, the stakes are clear for anyone trying to balance love with a ledger that doesn’t stretch as far as it used to. As costs continue to move upward, households will have to decide what stays in the budget—and what has to be left behind.
pet costs pet adoption veterinary care Bank of America Institute consumer spending affordability brand loyalty DOSS survey price increases college student earnings expectations
My vet visit last month was insane. So yeah I guess adoption falls when everyone’s broke.
I don’t get it, if shelters are cheap then why would prices stop people from adopting? Maybe they just don’t want the responsibility anymore. Also the brand loyalty thing… sounds like people will blame everything on inflation but they’ll still buy whatever lol.
They keep saying “trade down elsewhere” like that’s easy. Like, where am I supposed to cut, groceries? Rent?? And vets charge so much it’s crazy, but then the article also mentions shoppers dropping brands, which is kinda the same thing I guess? I just feel bad for the animals getting passed over.
It’s not the pet costs, it’s the whole system. Once college kids expect $80k and they don’t get it, they’re never gonna afford dogs, period. Plus I swear every shelter “fees” are going up too so it’s like $1000 upfront then more later. I saw 60% dropped brands too and that’s basically proof people are broke, not that “loyalty erodes” or whatever. Either way, I’m glad we got ours before prices went wild.