According to the National Retail Federation, people were expected to spend $866 million on their pets this year, which is up from the $519 million spent in 2008.
Fewer consumers are celebrating Valentine’s these days, but those that do celebrate are spending more. The majority of the dollars are still spent on significant others, but there’s in increase this year with consumers also spending on their children, parents, friends, coworkers and yes, pets.
MarketWatch reports that “one in five people buy Valentine’s Day gifts for their pets…”
Well there must be a whole bunch of happy cats and dogs (and any other ‘furry friends’ that you can think of) running around extra happy today!