Art and Entertainment


Have Pets Become Our Masters?

June 01, 2008 12:08 AM
by findingDulcinea Staff
Pet owners around the world are shelling out money like never before for luxury pet goods, such as strollers, designer outfits … even Prozac.

30-Second Summary

Americans will spend $40 billion on their pets this year, according to the 2007–08 National Pet Owners Survey by the American Pet Product Manufacturers Association.

Of that, $16.1 billion will go on pet services, such as “grooming, day care and boarding.” But much of that money will undoubtedly be spent on the growing market for luxury pet goods: the diet pills, dog delicacies and jewelry.

In Jan. 2008, Tokyo held its first Pet Fashion Week, during which dogs modeled designer pooch-wear.

But pets are not just being pampered, they are becoming our beneficiaries. Sixteen states currently allow owners to set up a trust fund for their pets.

In fact, New York billionaire Leona Helmsley left $12 million to her Maltese, Trouble.

Headline Link: ‘What I Wouldn’t Do for My Cat’

Background: How much pet owners spend

Related Topics: Conspicuous consumption and animal trust funds

Dog bakeries
Fashion Week for pets
Dog diet pills
‘Puppy Prozac’
Trust funds for pets

Related Topic: Guide to pet care


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