According to the American Pet Product Association (APPA) the pet industry is projected to take in $63 billion (€56 billion) this year, over 25% more than 2010.
Meanwhile, the percentage of pet owners remained relatively stable, rising just 3% in that same period — today, approximately 65% of U.S. households own pets — which means average spending far outstrips the growth of the pet population.
What is going on? New York City, known for its over-the-top, expensive amenities. Along with urban centers such as San Francisco and Los Angeles, New York is an outlier in the sheer volume of its upscale pet services. But as with many trends that start on the coasts and bleed inward, it’s also an exaggerated manifestation of a national shift.
Americans are spending more money on their pets than ever before.
