Thursday, September 20, 2018

Pet Spending Rises 19% between 2016 and 2017

No price is too high to pay for our pets, apparently. The average American household spent $710 on pets in 2017, according to the Consumer Expenditure Survey. That's a stunning 19 percent more than the average household spent on pets just a year earlier in 2016, after adjusting for inflation. Here is the trend since 2010...

Average household spending on pets, 2010 to 2017 (in 2017$)
2017: $710
2016: $596
2015: $546
2010: $540

The Consumer Expenditure Survey places pet spending in the entertainment category. With the 2017 surge in pet spending, pets have become the entertainment item on which the average household spends the most. What did it topple from the number-one spot? Cable and satellite television service.

Source: Demo Memo analysis of the Consumer Expenditure Survey

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