Business:
When it comes to house pets no one loves their furry little friends more than Americans. In 2012, pet lovers spent a record $53 billion (that’s billion with a “b”) on everything from food, vet visits, and kennel stays to chewy toys, pet beds and day spas. Noteworthy is the fact that the new record sales figure beat the previous record of $50 billion, which was set in 2011, by 5%. Also noteworthy is that these records were set during one of the worst economic periods in the history of our nation. Moreover, the growth story would not appear to end there. According to Bob Vetere, the President and CEO of the American Pet Products Association, a trade group based in Greenwich, Conn, we should see another 4% gain this year.
One of the biggest beneficiaries of this trend is (more…)
