Pet Spending Spree: All Time High
LOS ANGELES — Dogs and cats have become part of the American family’s inner circle over the past 20 years, sleeping in their own beds or yours, eating food bought specially to help their digestive tracts, drinking purified water and cuddling up in chairs on heated pads made to fend off arthritis.
In addition to veterinarians, some pets have their own groomers, trainers, sitters and occasional walkers.
All this suggests a bright future for an industry that has grown alongside the popularity of pets, expanding at a steady 4% to 6% a year since the American Pet Products Association started record-keeping in 1996.
The biggest chunk of 2013 spending, $21.6 billion, went for food — a lot of it more expensive, healthier grub. In 1996, total pet spending was just $21 billion. Adjusted for inflation, that’s $31.3 billion.
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