I just read this AP article that says Americans spent over $53 billion on their pets last year. That’s a lot of Alpo and Meow Mix. What’s stunning is that this amount isn’t radically higher than what Americans spent in 2011 for their furry companions.
That’s up 5 percent from 2011, when spending first broke the $50 billion barrier, says the American Pet Products Association, a trade group based in Greenwich, Conn. And APPA President and CEO Bob Vetere predicts another 4 percent gain this year.
At about $34.3 billion, food and vet care represented about two-thirds of total spending, with money spent on supplies and over-the-counter medications rising by more than 7 percent.
Since I use Mint.com to track my spending, I decided to see how much I contributed to that $53 billion.