Americans Spending $700+ Million on Pets for Valentine's, New Study Says

Americans love their pets, and nothing shows more how much you appreciate your dog than a luxurious diamond dog “necklace.” Now the Valentine’s Day is taking over the pet industry, and more dog owners are on the lookout for great Valentine’s gifts for their dogs.

A new study from the National Retail Federation, a trade association, has reviewed pet owners relationship with their dogs across the United States. Turns out, 1 in 5 Americans will now take into consideration their pets when thinking of gift-giving on Valentine’s Day.

The NRF survey has found that consumers in America will spend almost $19 billion on this holiday, and $703 million of that is directly for pet-related items. Fancy dog beds, high-quality pet food, gigantic cat houses and so forth. Majority of this sum goes to dogs and cats, naturally.

“It’s encouraging to see consumers show interest in spending on gifts and Valentine’s Day-related merchandise – a good sign for consumer sentiment as we head into 2015. Hoping to draw in eager shoppers, retailers will offer unique promotions on gifts, meal options at restaurants and even experiences,” says NRF President and CEO Matthew Shay.

However, NRF has also pointed out in their study that even though the actual number looks impressive, the average amount of how much a pet owner will spend is closer to $5.28. Think a new cat bowl or new dog collar.

Featured photo courtesy of Mary Phoenix