Valentine’s Day has gone to the dogs…and the cats…and pretty much any other pet you can imagine.
The National Retail Federation reports that $1.7 billion will be spent on pets this Valentine’s Day season, which averages out to about $12.21 per pet owner. Pet spending for Valentine’s Day has gone up significantly in the past decade, with $400 million spent on pets for Valentine’s Day in 2010.
Prosper Insights Executive Vice President of Strategy Phil Rist said in a statement, “We’ve always heard of puppy love, but pets are definitely seeing a larger share of Valentine’s Day spending. Husbands and wives don’t need to be worried if their spouses are buying a Valentine’s Day gift for someone else – most likely it’s greeting cards for their children’s class at school, flowers for a family member or maybe a treat for the family dog.”
Overall, the National Retail Federation estimates that Americans will spend a whopping $26 billion this Valentine’s Day season.