Pet Industry
The pet industry is one of the fastest growing industries in the world. Americans spent $41 billion on their furry friends, in 2007, up from $17 billion in 1994. That’s a howling 11% increase per year. In addition, the industry is expected to grow to $52 billion by 2009, according to the American Pet Products Manufacturers Association.
“Americans spend (more on their pets, than) on the movies ($10.8 billion), playing video games ($11.6 billion), and listening to recorded music ($10.6 billion) combined.”
-Brady, Diane & Palmeri, Christopher. (2007, August 6). The Pet Economy. Business Week.
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