As the recent lockdown in Victoria reminded us, the companionship offered by a pet can provide comfort in tough times. In 2020 we spent 35 per cent more time with our pets, the Australian Bureau of Statistics says. Spending on pets is considered a non-discretionary item, the statistics agency adds.

But while recent commentary points to the pandemic as prompting rapid growth in demand for pets and associated services, the trend in “fur babies” commanding a larger slice of the consumer spending bucket had been emerging for some time. In 2019, Australians spent more than $13 billion on pet services, a report commissioned by Animal Medicines Australia showed. This figure is likely to have increased strongly in the past 18 months and is expected to further rise in the short term.