Another Hot Market For Your Idea To Start A Home Business: The Pet Market
January 7, 2008
If you don’t have a pet, you may not be aware of how enormous the Pet Industry is. Even if you are a pet owner, you may not know how much money Americans spend on their pets each year. According to a BusinessWeek cover story from August 2007,
- Two-thirds of US households, 33%- 71 million homes, have a pet.
- This is up from 64 million, 10% just five years ago
- Americans spend $41 Billion a year on their pets - that’s billion- with a “B”
- This has doubled in the last ten years
- Spending is expected to hit $52 billion (a 25% increase) in 2 years.
Some more telling statistics:
- 42% of Dogs share a bed with their owners
- 30% of pet owners buy their pet birthday gifts
- 31 million dogs & 39 million cats received holiday presents last year
Has this got your attention yet? [Read more]
