Sunday, December 04, 2022

Unexpected consequence of inflation: pet adoption rate significantly decreases in 2022

Every day we see news indicating an economic decline on a global scale. However, there is one unexpected consequence of inflation that not everyone knows. Inflation impacts pets. Rainwalk pet insurance agency conducted research that shows the constant increase in pet owing in the USA from 2015 to 2021 reaching a record 70% mark. In 2022, the trend is changing: experts claim the pet adoption rate has declined significantly in 2022. Why?

Rising costs

More and more people reject the idea of adopting pets due to ever-increasing costs. Following the results of 3 quarters of 2022, Forbes conducted a study on how prices for pet owners have changed. The results were disappointing: only 58% of owners can pay a surprise veterinary bill while 42% need financial assistance to pay a pet medical bill. The situation with food is no better: pet food prices have outpaced general inflation by 0.6%.

Food, accessories, medicines, care products, and much more… Of course, taking care of a pet brings joyful chores, but it is also quite an expensive pleasure. To save money many people use discount coupons for purchases, which can be found on coupon sites such as Promocodius. But even with discount coupons, keeping pets is still too expensive in 2022, which puts off the idea of adopting a pet.

After-effects of Covid-19

Another contributing factor is the pandemic. It seems that the world has already overcome the pandemic, but its shadow is still present in our lives. The fact is that the pandemic has made adjustments in the lives of many people. Many were forced to change jobs or places of residence. And many faced unemployment. Inflation in 2022 exacerbated already existing problems. 

Thus, problems with housing and work not only do not contribute to an increase in the desire to adopt a pet but also provoke an increase in pet abandonment, due to The Guardian’s recent research. This, in turn, exacerbates the situation with shelters, which also have difficulties with financing, since shelters exist mostly through donations and the help of people. If you care about the situation at animal shelters, you can also help them by buying food or medicine for pets. For savings reasons, you can use a promo code Chewy here.

Handling existing issues 

Now, some service providers are working in different regions to help others who find it tough to afford the cost of kibble. Some local entities, shelters, and community service centers are working on this issue. If someone finds it difficult to afford a pet and wants to surrender their animals because they no longer have the means to provide for their pet financially, they will give them subsidized vet care and pet food. Some shelters also provide free-of-cost vet care, behavioral assistance, or consultation if required. 

Decline economic growth and inflation have directly impacted all sectors, even pets. And to tackle it, people have to come out and step forward with their skills and resources to help out each other and the pet facilitation centers and shelters that are short of resources and can only meet means up to that extent. 

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