Well the economy might have remained sluggish in 2012 but Americans didn’t have any trouble spend their money on Fido. The AP reports that animal lovers spent over $53 billion on food, kennels, vet care and other pet related services. Really?
Americans Spend Billions on Their Pets
The economy may have been slow in 2012, but Americans still found ways to spoil their pets. According to the Associated Press, pet owners spent over $53 billion on food, vet care, and other services for their furry friends.
That’s right — $34 billion went just to pet food and vet care. Supplies and medications saw a 7% rise, and even alternative vet treatments like pet acupuncture reached $12.5 billion.
Remembering Simpler Pet Days
I’ve been a pet owner for most of my life. When I was a kid, our dogs lived outside, played around freely, and acted like, well, dogs. We fed them, cared for them, and took them to the vet when necessary — but we didn’t spend a fortune.
We washed them with a garden hose, not at a spa. There were no fancy groomers or “doggy hotels.” We didn’t even know pets could get acupuncture. Maybe we didn’t spend much because we couldn’t afford it, or maybe because it just felt unnecessary.
Spending on Pets Keeps Growing
Today, Americans are spending more than ever on pet luxuries. The AP reports that pet-related spending jumped again last year.
Honestly, I’m surprised. With the economy still shaky, I would think pet pampering would be one of the first things people cut from their budget. At my house, it certainly would be.
Yet, according to a ConvergEx report, people are delaying major life events like marriage or home-buying — but they refuse to give up their pets. It seems owning a pet brings comfort that people aren’t willing to sacrifice.
Why Are We Spending So Much?
Maybe we just like to spend money. When big financial goals like buying a house seem far away, we might turn to smaller indulgences — like grooming Fluffy the Doodle or getting Fido a massage.
The report also notes that since 2008, the cost of pet ownership has increased by 12%, rising faster than inflation. While pets and accessories are cheaper, vet services and pet food prices continue to climb.
A Simple Suggestion for Pet Owners
If you treat your pet better than yourself — stop. The U.S. economy is still uncertain. Gas prices are high, and groceries cost more each month. Instead of paying for luxury pet services, save your money or pay off debt first.
If you’re debt-free with healthy savings, then sure — go ahead and treat Maggie the Redbone Coonhound to a spa day or acupuncture.
But maybe, just maybe, we can go back to treating pets like pets — with love, care, and attention. That’s what they really want, and it doesn’t cost a thing.
