Puppy love is stronger than ever.
Twenty-seven percent of people say they will buy Valentine’s Day gifts for their pets, totaling approximately $1.7 billion in spending. The numbers are the highest in survey history and have increased by 17 percent since 2010.
“Husbands and wives don’t need to be worried if their spouses are buying a Valentine’s Day gift for someone else – most likely it’s… a treat for the family dog,” Prosper Insights Executive Vice President of Strategy Phil Rist told the NRF.
As a whole, Valentine’s Day spending is expected to hit record highs with total spending projected at $27.4 billion, up 32 percent from last year's record $20.7 billion. About 55 percent of Americans plan to celebrate the holiday altogether.