What it means for your business.

In the Animalytix Midyear Update this past August, Travis Meredith, DVM, MBA, discussed the challenges veterinary practices face amid rising costs, declining visits and shifting economic dynamics. His insights into pet-owning consumers were especially relevant.

Pet owners today face significant financial strain – from inflation, housing insecurity and increasing household expenses – limiting their ability to spend on animal care. This impacts not just veterinarians, but also suppliers, pet food manufacturers, distributors, and investors across the entire animal health ecosystem.

Veterinary care costs are now a top concern for pet owners, alongside pet food. While two out of five pet owners increased their veterinary spending in 2023, those gains were uneven, offset by others who cut back. This contradiction shows there’s still a committed group willing to invest in pet health, but a growing number have reached their financial limit, making affordability a central issue.

Shelter trends further illustrate the issue. Owner surrenders due to eviction, homelessness, or inability to afford care have spiked, especially among younger pets. Dogs are experiencing longer shelter stays and slower adoption rates compared to pre-pandemic levels. This suggests not only rising pet instability but also a shrinking pool of active veterinary clients, as financial strain pushes more owners to relinquish animals early.

Given these pressures, distributor sales reps (DSRs) must support practices with targeted strategies that drive resilience and long-term success:

Emphasize value: Recommend cost-effective products and bundled offerings that allow practices to maintain care standards while controlling costs. Help customers understand and communicate the return on investment to pet owners.
Bring efficiency: Promote solutions – especially technology – that save time, reduce waste, and improve operations in cost-sensitive environments. Encourage gradual tech adoption by demonstrating how it aligns with practice goals and client expectations.
Market segmentation: Help practices identify and retain both high-value and price-sensitive clients. Recommend products, like injectables, that improve margins and encourage vet visits, creating convenience for the client and efficiency for the clinic.
Be a partner: Offer more than products. Share market intelligence, assist with training, and help practices navigate tough client conversations. Your support positions you as a trusted advisor, not just a vendor.

Affordability is now the central challenge for pet owners and practices alike. DSRs who act as strategic partners by delivering sustainable, cost-effective solutions will stay relevant and grow alongside their veterinary customers in today’s constrained and evolving market.

Photo credit: istockphoto.com/Aleksei Naumov

Veterinary Practices Under Pressure