Pet care sales remain strong through recession
Posted on March 23, 2010 under Industry News
While the economy has caused many individuals to tighten their purse strings as a means of saving some cash, others are still looking to make sure they and their loved ones enjoy a lavish life – including their pets.
Pet owners are still spending the big bucks to ensure that their furry companions are taken care of and happy, according to IndyStar.com. Some pet owners told the news provider that they spend as much as $300 per month on their pets.
According to the news provider, while other retail industries are feeling strains from the economic recession, pet care sales remain stable.
Some industry insiders attribute people’s love for their pets as the reason that they continue to splurge on them.
"As times have gotten tough and scary for people, pets are where people find comfort and solace," Bob Vetere, president of the American Pet Products Association, told the news provider. "Pets don’t have bad days. They can’t tell you a sad story. They are just there saying, ‘Let’s play.’"
According to BusinessWeek, Americans spend approximately $41 billion on their pets each year.