US pet pampering at all time high
March 1st, 2008 Posted in Pets Guide Leading a dog’s life could be a good thing in the United States
this year with spending on pets forecast to hit a new high despite
fears of a recession and a crimp on consumer spending.
The American Pet Products Manufacturers Association released
figures on Tuesday showing pet owners spent an estimated $US41
billion ($43.9 billion) on their animal friends last year which was
almost double the $US21 billion ($22.5 billion) spent in 1996.
But the non-profit industry group projected this would rise by
nearly six percent to $US43.4 billion ($46.5 billion) in 2008 as
pet owners treated their animals to spas, designer clothing, and
other high-end goods as well as gourmet foods.
APPMA President Bob Vetere said an increase in pampering and
gift giving has fueled the industry as more pet parents continued
to treat their pets like members of the family.
“We’re noticing more baby boomers are pet owners and they are
treating their pets like members of the family,” said Vetere in a
statement.
“For empty-nesters, pets are filling a void in their lives and
they’re showing their appreciation to their pets.”
About 71 million homes in the United States or about 63
per cent of households - are estimated to have pets, with dogs,
cats, and fish the most popular pets. This has led to a vibrant
market in pet products, services and health insurance.
Vetere said spending on pet health insurance was a growth area
and there was also a marked increase in spending on grooming
services such as pet hotels, pet spas and doggie day cares.
“High end products in general are on the rise, as is gift giving
and new product introductions and innovation,” said Vetere who
estimated six per cent of dog owners bought their four-legged
friend a Valentine’s Day gift.
“The pet industry continues to grow at a record pace and the
future is no exception. Pet owners and the companies providing pet
products and services show no sign of letting up.”
Reuters
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Tags: amp, animals, cats, dog owners, dogs, hotels, Pet, pet owners, pet product, pet products, pet spa, pets, products manufacturers association, rents, united states, vet
