Pet purchases have increased by 118 per cent in the last three years, according to data from buy now pat later (BNPL) provider Zip.

The data showed that from February 2020 to February 2023, total transaction value had increased by 118 per cent, while in-store transactions increasing by 180 per cent with the most popular stores being Petstock, Petbarn, and Budget Pet Products.

Steve Brennen, Chief Customer Officer at Zip, said it’s incredible to see such a significant increase in pet-related purchases over the past three years, and it’s just testament to the fact that Aussies are passionate about their furry friends.

“We’re committed to supporting our customers in leading the lives they want to live, especially so when it comes to our beloved pet family members. We’re a product you can use for everyday and discretionary spending – so whether you’re splashing out on a plush new bed, or you’re bulk-purchasing essential items like heartworm treatments, Zip has your back.”

Research by Animal Medicines Australia, showed that pet owners are spending $3,200 per dog and $2,100 per cat each year, primarily on food, veterinary services, and healthcare products.

“We have an incredible array of big-name merchants available to purchase your pet products from – however, this International Pet Day we’re encouraging Aussies to also support small businesses, and buy your fur babies treats from the smaller, independent pet stores,” said Brennen.

To stay up to date on the latest industry headlines, sign up to the Pet Industry News e-newsletter.