U.S. retail sales may be weak, energy prices way up and housing prices way down, but pets rule at the holidays--especially dogs--and that's helping to keep many retailers' registers ringing. Caring owners are not likely to stiff their beloved animals for the holidays, experts say.
Fifty-six percent of dog owners and 42% of cat owners bought holiday gifts for their pets last year, according to a survey by the American Pet Products Manufacturers Association. Overall, Americans are expected to spend an estimated $48.7 billion on their pets in 2007, nearly twice the amount of a decade ago and growing at more than 7% a year, according to Packaged Facts.
High-end, luxury items are increasingly popular. A prospective pet pamperer can find everything from organic cookies and doggie basketball jerseys and jackets to $70 treat jars, $399 temperature-controlled pet carriers and $499 cashmere pet beds.
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