Pet expenses at al ltime high

Pet expenses at al ltime high The U. The $50 billion figure also includes buying the pet animals. A trade association finds that Americans dropped more than $50 billion dollars on pets in 2011. The sales record doesn't indicate that the purchase (and maintenance) of pets has increased, but rather the cost of caring for and pampering pets keeps going up. Vet bills are the second most costly. The group says a lot of new products and services are fueling the growth, as entrepreneurs and investors start new businesses. Americans spent a record amount of money on their pets in 2011, and they're expected to spend even more this year. In fact, Americans are spending billions of dollars on their pets, and spending is at a historic high. That applies to all pets also– dogs, cats, reptiles, tanks of fish—the prices are rising. economy is still recovering, but your pet wouldn't know it. In 2012 – sales are likely to top $52 billion dollars. That's an all-time high, as spending rose 5% from the previous year. And over-the-counter medicine and other supplies are the third biggest expense. The biggest cost is food, which accounts for almost half of all spending on household animals. Also contributing to the billion dollar industry–pets are usually one of the last things people will give up when forced to make cutbacks in a tough financial situation. Pet expenses at al ltime high Trade News selected by Local Linkup on 07/03/2012