Image by E. Kramer
The receipts for 2011 have been tallied, and the American Pet Products Association is reporting that U.S. pet owners topped $50 billion in spending for the first time last year. The final spending total was an impressive $50.96 billion.
Pet services (a category representing services such as grooming, doggie day care, and boarding) showed the most marked growth, rising 7.9 percent. The APPA projects growth for the service sector will be even stronger this year, rising at a rate of approximately 8.4 percent.
Pet insurance, included in the category of veterinary care, also is expected to show significant gains. Pet owners spent about $450 million on insurance services in 2011, and the APPA projects that they will spend more than $500 million in 2012.
No comments:
Post a Comment