New data from Australia’s largest buy now pay later (BNPL) provider Zip reveals a surge in pet-related purchases post-pandemic ahead of International Pet Day on 11 April.
Comparing data from February 2020 to February 2023, Zip found that the total transaction value (TTV) for pet purchases has increased by 118% – a figure that has skyrocketed due to the pet adoption rates that increased during the pandemic.
The number of Zip users transacting at pet stores has also increased by 180% between February 2020 and February 2023, namely at popular merchants such as Petstock, Petbarn and Budget Pet Products.
According to a study conducted by Animal Medicines Australia[1], pet owners are spending $3200 per dog and $2100 per cat each year— primarily on food, veterinary services, and healthcare products.
“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,” says Zip Chief Customer Officer Steve Brennen.
“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,” he said.
Zip has merchant partners such as Petstock, Petbarn and Budget Pet Products available, but customers also have access to Tap & Zip – a virtual Visa card accessed via the Apple or Google pay wallet which allows customers to shop in store any pet shop in Australia where Visa is accepted, so customers are encouraged to also buy from independent pet stores where they can.
“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,” Mr Brennen.
For more information, visit zip.co/au/shop.
[1] Animal Medicines Australia. (2021). Pandemic pets: The impact of COVID-19 on pet ownership in Australia. Retrieved from https://animalmedicinesaustralia.org.au/wp-content/uploads/2021/08/AMAU005-PATP-Report21_v1.4_WEB.pdf.
