Demand for pets has grown exponentially through lockdown. Numerous charities have reported higher rates of pet adoption and shortages in adoptable pets since the start of the pandemic.
The shortage of pets has enabled criminals to scam unsuspecting victims.
Data from Action Fraud, the national reporting centre for fraud and cyber-crime, reveals that £2,638,323 - an increase of over 20% compared to the previous financial year - was lost by prospective pet owners in the 2020/21 financial year, after they paid deposits for fake pets they saw advertised online.
We have analysed what changed in the pet industry in 2021 and how the pandemic triggered some of these changes.
Keep reading to discover more about some interesting trends and figures.
- 2021 trends in the pet industry
- E-care pet products are growing
- Impacts on claim costs and pet cover
- Pet ownership. What are the costs?
- What solutions are available on the market?
- New pet analytics indicators
- How can insurers enhance their anti-fraud and marketing strategies?