Name: How America’s Love Of Cats And Dogs Became A $72 Billion Business
Uploaded: 2021-04-24T03:24:06.000Z
Duration: 13 min 6 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Americans are spending more and more on their

pets. And at Morris Animal Inn, cats are also

The inn offers luxury accommodations, including

condos and kitty suites with plush beds and TVs.

Meals for pets just like this one made with human

grade ingredients. That's become the standard for

U.S. pet spending hit $72 billion in 2018.

About $3 billion more than the year before.

And if you look at the data since 1994, you can

The pet industry's growth isn't showing any signs

of slowing down. In the United States, the number

of dogs and cats could increase faster than the

human population, according to one forecast.

People are even taking out pet insurance plans to

help pay for medical procedures and help their

pets live longer. Here's how Americans' love for

In 2018, about two out of every three U.S.

Dogs and cats remain the two most popular

homes. Birds and horses come in at a distant

The number of cats and dogs in the United States

is predicted to increase at a faster rate in the

U.S. population in the five years from 2019 to

2024. Humans and their pets are attached at the

hip. Once a clear delineation between master and

servant, the human pet relationship has changed

significantly over the last 30 years and brought

Years ago, we didn't fully understand animal

So what people did with their animals before,

which was commonly accepted, might, for instance,

include things like tying your dog outside to a

dog house. We now see that that's not really

appropriate to just tie a dog out there for a

number of reasons, not least of which is that

there are weather issues and the dog is not

I think through our advanced understanding of

animal welfare, we're starting to realize that

these are social creatures that want to spend

In 2017, she and Rebecca Fox published a paper in

which they concluded that since the late 20th

century in Great Britain, the relationship

between humans and animals had become more

People are seeing maybe their pets more as not

necessarily humans, but maybe as part of the

family. Sort of recognizing that they're not just

individual who is important within the family,

And I'm not saying nobody did that before.

But I think it's a lot more common and a lot more

accepted now. Historically, people only spent

money on their pets when the economy was booming.

But with pets moving closer to family status, pet

owners are more likely to pay for their pet's

Industry experts call this phenomenon pet

The pet industry's growth of late is in part

You have the aging demographic, the empty

nesters, and they're having more and more pets

because they don't have children anymore.

But also, you have the millennials who are coming

in and delaying the raising of children and

households have pets, and that's twice the number

that have children. Humans are going beyond basic

We've begun to treat our pets the same way we

treat ourselves. To that end, pet owners are

purchasing indulgent items like premium pet food,

daily supplements, tech gadgets, clothing and

We conducted a completely unscientific poll at

CNBC to see how much people spend on their pets.

This is Bubba. He's an eight-year-old pit bull

and he loves sleeping and our family loves him so

much. We spend about $1700 on him a year.

The most expensive thing we get for him is his

He has to have a special food for his allergies,

We spend about $45 on her litter and hay and just

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How America’s Love Of Cats And Dogs Became A $72 Billion Business

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phenomenon

opportunity

tremendous