(Vocus) May 12, 2010
Even in the midst of a recession, a recent survey indicates that pet owners have not reigned in spending on their furry friends. According to the 2009/2010 National Pet Owners Survey, it is estimated that a whopping $47.7 billion will be spent on pets in the U.S. this year.
The survey reveals that 62 percent of U.S. households--more than 71.4 million homes--own a pet.
According to the study, pet lovers will continue to spend money regardless of the economy. Because of this trend, companies are continually launching new pet products and services.
Small dogs are more popular than ever. Some hypothesize that this is because littler dogs have become an accessory to celebrities. Pugs are a very sought-after breed. There are thousands of pug groups and other dog groups popping up all over the country to unite passionate pet owners. Entrepreneurs have noticed the need for specialty products and services. You can find a wide variety of customized products for nearly every popular breed of dog.
For some families, pets come first. People are literally choosing to spend money on their pets over other needs. While many people are forced to spend money more frugally, they will still spend a little more for organic dog food or treats. Pet shop owners are saying that while business is still up, pet owners are spending their money differently. Items like custom made pet beds and elaborate dishes are not as popular.
An Internet search for pug gifts and accessories turns up collars, leashes clothing, beds, toys, name tags, mugs, t-shirts, key chains, handbags, pictures, computer peripherals, figurines, kitchen ware, wall decorations, aprons, hats and more. And it appears that pug owners are eating it up. The industry is growing and as pug lovers are displaying their pooch loving pride, their pups are being pampered with toys, doggy spas and gourmet food.
The average annual cost of a dog is about $2,000. Of people who keep pictures of their children in their wallet, about 40 percent also have pictures of their pets. Many people consider their pets part of the family.