While Americans spend the most on pet supplies per capita of any country in the world, pampered pets also live in Australia and New Zealand. This is according to numbers by Statista Market Insights. Per-capita expenditures on pet supplies are expected to reach an absolute global record of around $280 in the United States this year, while this figure is projected as $226 in Australia and $196 in New Zealand. The global market for all things pet is expected to surpass $228 billion this year, with pet food making up more than 70 percent of this.
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🔗 statista.com
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Needs to be PPP adjusted? tf Statista.
Yep, things like veterinary or grooming services aren’t tradable, so exchange rates can’t capture those differences.
I was also wondering about pet food - the cost of a can of branded food from Mars Food or Nestle (like Purina) is very different across countries (I know because once upon a time we had a traveling cat with us.) I.e. in Germany a can would cost $0.50, in Turkey you'd pay $1.50 for the same can. The "pampering" from the cat's perspective didn't change, but the expense definitely did.
I wonder if there’s some quality difference between those products.
If not, I guess it’s just due to it being a relatively low unit value good, which makes it harder to arbitrage across large geographies.
Although, there are also service costs embedded in those prices and those would require PPP adjustments.
I think it's transport costs, tariffs, but perhaps most of all pricing strategy from the producer or importer; positioning of a product in one place can be made "luxury" and being priced for max profit, while in the other, where there is a huge market share, the product is priced for maximum quantity.
Pets clearly follow the GDP, some more than others. My dog wants a raise too.
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