In 2017, OnBuy.com reported that Brits would spend £750million on their pets over the festive period, with 25% of pet owners admitting to spending more on their pets than their friends. This number has increased over the years, according to a survey of 2,972 Brits by OnBuy.
First of all, there are more than 9 million dogs in the UK, with 92 per cent of London households owning a pooch and 14 per cent owning cats, according to Groom Arts Academy. That means there is a huge scope for pet-related products in a growing market.
In 2019, data from statista.com found that more than £6.5 billion was spent on pet related products in the UK, while data from OnBuy suggests that more than £2 billion of that would have been Christmas related gifts.
It has been calculated that this year, Brits are spending more than 64 million pounds on their pets than their partners.
In 2019 27% of Brits spent an average of £75 on their partners for the festive period. For 2020, that number has dropped to 24 per cent of Brits intending to spend that amount on their partners. It seems Brits are more willing to spend £75 on partners than pets, as only 14 per cent of Brits intend to spend that same amount on their pets.
In 2019, 13 per cent of Brits reported that they spent more than £100 on their partners. For 2020, the figure has dropped to just 9 per cent planning to spend more than £100.
However, in 2019, only 5 per cent of Brits were reported to have spent £100 or more on their pets. For 2020, 11 per cent of Brits intend to spend £100 or more on their family pets.
OnBuy’s survey also revealed that 74 per cent of pet owners wrap up their presents for their furry family members to open up on Christmas day. Toys seem to be the most popular of gifted presents bought for pets, with 53 per cent spending most of their pet present budget on toys. This was followed closely by treats (42 per cent). Collars were the least popular presents for Brits to purchase for their pets at just 3 per cent.
Pictured is a Sophie Allport Champagne Dog Toy