When consumers are emotional, they’re prone to spend a lot. And people certainly get emotional about their pets, whether furry, feathered or finned.
Americans spent more than $34 billion last year on their pets, double the amount 10 years earlier, according to the American Pet Products Manufacturers Association. That means U.S. pet spending is as big as the entire economies of North Korea, Kenya or Paraguay.
Luxury spending on pets is among the fastest-growing segments. It includes dog massages, pedicures for birds and self-flushing cat litter boxes. High-end productmaker Gucci has offered “long-haired goat dog beds” for $2,050 and sterling silver cat food bowls lined with yellow gold-plating for $1,220. Chanel makes Bow-wow perfume. There’s caviar for your cat.
“If a human uses it, somebody will find a way to apply it to a pet,” said Bob Vetere, managing director of the American Pet Product Manufacturers Association. “It’s just phenomenal.”
Vetere concedes he overspends too.
“As much as I know in my heart of hearts that if I just find a tennis ball and throw it in my back yard my dog will be thrilled, that leaves me empty,” he said.
But such spending on pets is a waste. Experts say pets mostly crave care and attention. As in Vetere’s case, the pampering products and services are solely to make the owner feel good.
Below are the biggest categories of pet spending, how much Americans spent on them last year and some cost-cutting tips:
Pet food: $14.3 billion
Ultrafrugal consumers may want to look on the Internet for recipes for making pet food. For example, you can make dog food by mixing whole grains, oil and chicken broth and baking it. But that’s likely too much effort for most people.
Instead, shop for the best prices on food. Warehouse clubs and discounters are good places to find inexpensive food.
Veterinary care: $8.3 billion
Finding affordable health care for your pet is the same as for any purchase. Compare prices by calling local vets and asking for price quotes. While you may be comfortable with a particular vet, at least consider shopping around for a better price on routine procedures.
Most experts, however, don’t advise skimping on checkups and shots for pets that need them. A healthier pet will cost less in the long run.
Supplies, medicine: $7.9 billion
Prices for pet supplies can vary widely. For example, a MechaniChem fish-tank filter costs about $4 each at many pet shops. But online pet supplier Drs. Foster & Smith, at www.drsfostersmith.com, sells them for $6.69 for 12, or 56 cents each. That’s nearly eight times cheaper.
Pet services: $2.2 billion
Professional grooming for a pet is similar to lawn care or housecleaning. You can save a bundle if you’re willing to do it yourself. And getting a neighbor to watch a dog while you’re on vacation is far cheaper than boarding, even if you bring the neighbor back a nice souvenir as a thank you.
Animal purchases: $1.6 billion
Note that actually acquiring the pet is the least expensive part of pet ownership.
Looking for a truly cheap but enjoyable pet? Check out colorful bettas, also called Siamese Fighting Fish. They’re cheap, hearty and low-maintenance.
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Edited by Lara Weber (lweber@tribune.com) and Chris Courtney (cdcourtney@tribune.com)
