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The Scoop: Pampered Pets to the Economy's Rescue

The Scoop: Pampered Pets to the Economy's Rescue


Even if you don't exactly consider your pet to be your "child", experts say many people are as dedicated to their animals as parents are to children . . . and will sacrifice themselves before trimming back on four-legged friends. It's expected that Americans will spend $43.4 billion this year on their pets – although that's down from the original prediction, pet pampering doesn't show many signs of slowing down. Morningstar analyst R.J. Hottovy says:

It's definitely more resilient than most categories tied to discretionary spending. It's one of the last categories (people) cut out of their budget.

I couldn't agree more as my weekend trip to Petco found me picking up a bag of gourmet treats for my lil guy in addition to a 20-lb. bag of dog food – while I'm not willing to downgrade my pups' food, I am trying to buy in bulk to save some money. Is the analyst's statement true for you, too?

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