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How America's obsession with pets helped create a $72-billion-a-year industry

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Cute puppies. Kittens. Instagram dogs. Pet supplements, a smart cat litter box and specialty veterinary practices. Americans are spending more and more on their pets. U.S. pet spending hit $72 billion in 2018, an increase of more than $3 billion from the prior year. And with pet ownership on the rise, the industry could grow into an even bigger business. Here's how America's love for pets turned into big business.

 

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CNBC Why call it an obsession like it's a bad thing? Animals are way more loving, loyal and fun than a large percentage of people. Animal companions are a really important part of life.

CNBC And I would not call that obsession I call that’s ❤️

CNBC Because this is priceless!

CNBC They are family are kids not pets. We spend money on taking care of them just like people take care of their human children.

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Americans spend more than $72 billion on pets—here's how dogs and cats became big businessFrom Wall Street to living rooms and backyards, pets are becoming a massive part of American life. Pet care has become a $72 billion industry in the United States. In fact, the population of dogs and cats is predicted to grow at a faster rate than of humans in American, according to one forecast. Here's how dogs and cats became big business. Over $100 a month, that old dog is expensive but so adorable he gives it back to us 10x XD I'm going to spend much less on mine if she does't quit digging holes in my yard.
La source: CNBC - 🏆 12. / 72 Lire la suite »

Americans spend more than $72 billion on pets—here's how dogs and cats became big businessFrom Wall Street to living rooms and backyards, pets are becoming a massive part of American life. Pet care has become a $72 billion industry in the United States. In fact, the population of dogs and cats is predicted to grow at a faster rate than of humans in American, according to one forecast. Here's how dogs and cats became big business. Over $100 a month, that old dog is expensive but so adorable he gives it back to us 10x XD I'm going to spend much less on mine if she does't quit digging holes in my yard.
La source: CNBC - 🏆 12. / 72 Lire la suite »