Tightening purse strings

Published:

PETS are the latest victim of the credit crunch, according to new Saga research, which reveals that people are cutting back spending on their pets.

The survey of over-50s indicates that, despite being a nation obsessed by pets, our four-legged friends are having their collars tightened as a result of the current economic crisis.

Current spending can be up to £1,000 per year for a pet – which includes food, treats and visits to the vet.

However, in a Populus survey of more than 11,000 over-50s for Saga, a quarter (24%) said they would cut back on treats for their pets if they had to cut back on consumer spending. One in 10 (11%) would choose cheaper food for their furry friends.

Worryingly, almost one in five people (18%) would try to cut back on trips to the vet as they felt the effects of tightening purse strings.

Andrew Goodsell, chief executive of Saga Group, said: “This research proves that, as purse strings tighten, up and down the country, pets may feel the squeeze. We are still a nation of pet lovers, though, and we are celebrating this with our PetZfactor competition.”

Hundreds of people have entered PetZfactor – the Saga Zone social networking competition to find the nation’s favourite pet.

An expert judging panel, including leading vet Bruce Fogle, animal behavioural expert Pippa Ducat and Saga Magazine editor Katy Bravery have shortlisted pets in categories including cats, dogs, small animals, fish, reptiles, large animals and other pets.

The top 10 shortlisted participants in each category are now displayed on Saga Zone, giving members the opportunity to vote for their favourites. The prize is a professional photo shoot and being crowned Saga Zone 2008 pet with the PetZfactor.

Members can vote until May 12, and winners will be announced on May 26. Visit www.sagazone.co.uk